Minnesota SF1422 authorizes cities to create land-value taxation districts.

Minnesota SF1422 proposes a new law allowing cities to establish land-value taxation districts. The governing body of a city may adopt an ordinance to create such a district, detailing the parcels of property to be included and the tax base for the district. The ordinance must also evaluate the economic effects of the district. Before adopting the ordinance, the governing body must hold a public hearing, providing notice to property owners. The city must allocate the tax among all properties in the district according to the terms of the ordinance.

Minnesota SF1422 authorizes cities to create land-value taxation districts.

Minnesota SF1422 proposes a new law allowing cities to establish land-value taxation districts. The governing body of a city may adopt an ordinance to create such a district, detailing the parcels of property to be included and the tax base for the district. The ordinance must also evaluate the economic effects of the district. Before adopting the ordinance, the governing body must hold a public hearing, providing notice to property owners. The city must allocate the tax among all properties in the district according to the terms of the ordinance.