Minnesota HF727 establishes a redevelopment area homestead credit and appropriates funds.

Minnesota HF727 amends state statutes to establish a redevelopment area homestead credit for certain properties in designated redevelopment areas. This credit is available for properties classified as 1a or 1b under section 273.13, subdivision 22, located in second-class cities designated by the U.S. Department of Commerce. The bill also appropriates funds to cover the credit reimbursements. Effective beginning with taxes payable in 2026.

Minnesota HF727 establishes a redevelopment area homestead credit and appropriates funds.

Minnesota HF727 amends state statutes to establish a redevelopment area homestead credit for certain properties in designated redevelopment areas. This credit is available for properties classified as 1a or 1b under section 273.13, subdivision 22, located in second-class cities designated by the U.S. Department of Commerce. The bill also appropriates funds to cover the credit reimbursements. Effective beginning with taxes payable in 2026.