Extends property tax exemption for land held for economic development by the Port Authority of Bloomington.

Minnesota HF1088 extends the property tax exemption for land held for economic development by the Port Authority of the city of Bloomington. The exemption, which was initially granted for taxes payable in 2017 through 2025, will now continue for taxes payable in 2026 through 2031, provided the requirements are met. The exemption applies to property acquired by the Port Authority in May 2016. An initial application for the exemption must be filed with the assessor by June 30, 2025.

Extends property tax exemption for land held for economic development by the Port Authority of Bloomington.

Minnesota HF1088 extends the property tax exemption for land held for economic development by the Port Authority of the city of Bloomington. The exemption, which was initially granted for taxes payable in 2017 through 2025, will now continue for taxes payable in 2026 through 2031, provided the requirements are met. The exemption applies to property acquired by the Port Authority in May 2016. An initial application for the exemption must be filed with the assessor by June 30, 2025.