Minnesota SF2076 modifies homestead resort property tax classifications and tier limits.

Minnesota SF2076 amends the classification and assessment of homestead resort properties. It modifies the tier limits for different classes of properties, including residential, homestead, and commercial properties. Class 1a properties, used for residential purposes, have specific classification rates based on market value. Class 1b properties, used by blind or disabled individuals, also have specific rates. Class 1c properties, commercial properties adjacent to public water or state trails, are subject to different classification rates based on their use and market value.

Minnesota SF2076 modifies homestead resort property tax classifications and tier limits.

Minnesota SF2076 amends the classification and assessment of homestead resort properties. It modifies the tier limits for different classes of properties, including residential, homestead, and commercial properties. Class 1a properties, used for residential purposes, have specific classification rates based on market value. Class 1b properties, used by blind or disabled individuals, also have specific rates. Class 1c properties, commercial properties adjacent to public water or state trails, are subject to different classification rates based on their use and market value.