1.1.................... moves to amend H.F. No. 2695, the delete everything amendment
1.2(H2695DE2), as follows:
1.3Page 15, after line 15, insert:
1.4 "Sec. 6. Minnesota Statutes 2008, section 273.11, subdivision 1a, is amended to read:
1.5 Subd. 1a.
Limited market value. (a) In the case of all property classified as
1.6agricultural
homestead or nonhomestead under section 273.13, subdivision 23, paragraph
1.7(a), (b), or (c),
residential homestead or nonhomestead, timber, or noncommercial seasonal
1.8residential recreational, the assessor shall compare the value with the taxable portion of
1.9the value determined in the preceding assessment.
1.10For assessment years 2004, 2005, and 2006, the amount of the increase shall not
1.11exceed the greater of (1) 15 percent of the value in the preceding assessment, or (2) 25
1.12percent of the difference between the current assessment and the preceding assessment.
1.13For assessment year 2007, the amount of the increase shall not exceed the greater of
1.14(1) 15 percent of the value in the preceding assessment, or (2) 33 percent of the difference
1.15between the current assessment and the preceding assessment.
1.16For assessment year 2008, the amount of the increase shall not exceed the greater of
1.17(1) 15 percent of the value in the preceding assessment, or (2) 50 percent of the difference
1.18between the current assessment and the preceding assessment.
1.19(b) For assessment year 2010, the amount of increase shall not exceed the greater
1.20of (1) 20 percent of the value of the 2008 assessment, or (2) 33 percent of the difference
1.21between the 2010 assessment and the 2008 assessment.
1.22(c) For assessment years 2011, 2012, and 2013, the amount of the increase shall not
1.23exceed (1) 15 percent of the value in the preceding assessment, or (2) 33 percent of the
1.24difference between the current assessment and the preceding assessment.
1.25(d) For assessment year 2014, the amount of the increase shall not exceed (1) 15
1.26percent of the value of the preceding year, or (2) 50 percent of the difference between the
1.27current assessment and the preceding assessment.
2.1This limitation (e) The limitations in this subdivision shall not apply to increases
2.2in value due to improvements. For purposes of this subdivision, the term "assessment"
2.3means the value prior to any exclusion under subdivision 16.
2.4The provisions of this subdivision shall be in effect through assessment year
2008
2.52014 as provided in this subdivision.
2.6For purposes of the assessment/sales ratio study conducted under section
127A.48,
2.7and the computation of state aids paid under chapters 122A, 123A, 123B, 124D, 125A,
2.8126C, 127A, and 477A, market values and net tax capacities determined under this
2.9subdivision and subdivision 16
, shall be used.
2.10EFFECTIVE DATE.This section is effective beginning with the 2010 assessment."
2.11Page 46, after line 24, insert:
2.12 "Sec. 45.
2011 SUPPLEMENTAL AGRICULTURAL CREDIT.
2.13 Subdivision 1. Eligibility. Any property that is enrolled under Minnesota Statutes,
2.14section 273.111, for taxes payable in 2009 and 2010, and that is under the same ownership
2.15for taxes payable in 2009, 2010, and 2011, is eligible for a credit for taxes payable in 2011,
2.16provided that the taxes on the property payable in 2010 exceed the taxes on the property
2.17payable in 2009 by at least 25 percent. In the case of agricultural homestead property, the
2.18portion of the property consisting of the house, garage, and surrounding one acre of land is
2.19not eligible for the credit under this section.
2.20 Subd. 2. Amount. The amount of the credit is the amount by which the net taxes
2.21payable in 2010 exceed the net taxes payable in 2009 by more than 25 percent. The credit
2.22may not exceed the net tax liability on the property for taxes payable in 2011. For taxes
2.23payable in 2011 only, the auditor must reduce the property tax of each eligible property by
2.24the amount of the credit.
2.25 Subd. 3. Settlement. When the county auditor issues settlement payments to the
2.26taxing jurisdictions within the county, the settlements shall reflect the tax liability before
2.27subtraction of the credit under this section.
2.28 Subd. 4. Special levy. For taxes payable in 2011, the county may levy an amount
2.29equal to its credit obligation determined under this section. This levy is in addition to all
2.30levies otherwise authorized under Minnesota Statutes, sections 275.70 to 275.74.
2.31EFFECTIVE DATE.This section is effective for taxes payable in 2011 only."
2.32Renumber the sections in sequence and correct the internal references
2.33Amend the title accordingly