Property tax exemption allowed for certain leased land.

The bill amends Minnesota Statutes to allow a property tax exemption for certain leased land used by private entities for profit. Exemptions apply to property leased for aviation-related businesses, public facilities, cooperative farming, and conservation activities. The tax on leased property is payable as a personal property tax and does not become a lien against the property. Effective for property taxes payable in 2026.

Property tax exemption allowed for certain leased land.

The bill amends Minnesota Statutes to allow a property tax exemption for certain leased land used by private entities for profit. Exemptions apply to property leased for aviation-related businesses, public facilities, cooperative farming, and conservation activities. The tax on leased property is payable as a personal property tax and does not become a lien against the property. Effective for property taxes payable in 2026.