Minnesota SF2915 modifies exemptions for institutions of public charity, affecting property tax eligibility.

Minnesota SF2915 amends the criteria for property tax exemptions for institutions of public charity. The bill modifies the factors determining whether an institution qualifies for exemption, including the purpose of the charity, the nature of donations, and the beneficiaries. Effective for property taxes payable in 2025 and thereafter, the changes aim to clarify and potentially restrict the conditions under which rental housing properties can qualify for exemption.

Minnesota SF2915 modifies exemptions for institutions of public charity, affecting property tax eligibility.

Minnesota SF2915 amends the criteria for property tax exemptions for institutions of public charity. The bill modifies the factors determining whether an institution qualifies for exemption, including the purpose of the charity, the nature of donations, and the beneficiaries. Effective for property taxes payable in 2025 and thereafter, the changes aim to clarify and potentially restrict the conditions under which rental housing properties can qualify for exemption.