Minnesota HF3045 reduces the state general levy for commercial-industrial property.

Minnesota HF3045 amends the state general levy for commercial-industrial property, reducing it from $716,990,000 to $684,990,000 for taxes payable in 2026 and thereafter. The bill also allows the commissioner to adjust the preliminary or final tax rate for errors or tax base changes affecting the previous two years. Adjustments are permitted if the total difference in tax levied would be less than $100,000. This change takes effect starting with property taxes payable in 2026.

Minnesota HF3045 reduces the state general levy for commercial-industrial property.

Minnesota HF3045 amends the state general levy for commercial-industrial property, reducing it from $716,990,000 to $684,990,000 for taxes payable in 2026 and thereafter. The bill also allows the commissioner to adjust the preliminary or final tax rate for errors or tax base changes affecting the previous two years. Adjustments are permitted if the total difference in tax levied would be less than $100,000. This change takes effect starting with property taxes payable in 2026.