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Tax committee lays out bill to adjust homestead resort property tiers amid owners' concerns over rising valuations
Summary
House File 1829, which would modify tier limits for homestead-resort property tax treatment, was laid out for possible inclusion after resort owners and advocates described closures and rising valuations that they say threaten family-owned resorts and the small communities they support.
The House Tax Committee laid out House File 18 29, a bill to adjust tier limits for homestead resort properties, after multiple resort owners and an association representative told the committee rising property valuations and unchanged tier thresholds have placed seasonal, family-owned resorts at risk.
Chair Davids moved the bill to the committee and Joel Carlson, a consultant representing the Community of Minnesota Resorts, and several resort owners testified that the tiered property-tax system for resorts was created in 2003 and has not been adjusted for tier limits since about 2008. They said the result is that tiers set years ago now capture property values that have increased substantially,…
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