Minnesota § 273.1387 SCHOOL BUILDING BOND AGRICULTURAL CREDIT

Minnesota Statutes

§ 273.1387 — SCHOOL BUILDING BOND AGRICULTURAL CREDIT

Minnesota § 273.1387

PartPROPERTY TAXES

Ch. 273TAXES; LISTING, ASSESSMENT

This text of Minnesota § 273.1387 (SCHOOL BUILDING BOND AGRICULTURAL CREDIT) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 273.1387 (2026).

Text

Subdivision 1.Eligibility.
All class 2a, 2b, and 2c property under section273.13, subdivision 23, other than property consisting of the house, garage, and immediately surrounding one acre of land of an agricultural homestead, is eligible to receive the credit under this section.

Subd. 2.Credit amount.
For each qualifying property, the school building bond agricultural credit is equal to 70 percent of the property's eligible net tax capacity multiplied by the school debt tax rate determined under section275.08, subdivision 1b.

Subd. 3.Credit reimbursements.
The county auditor shall determine the tax reductions allowed under this section within the county for each taxes payable year and shall certify that amount to the commissioner of revenue under section270C.85, subdivision 2, clause (4

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Subdivision 1.Eligibility.
All class 2a, 2b, and 2c property under section273.13, subdivision 23, other than property consisting of the house, garage, and immediately surrounding one acre of land of an agricultural homestead, is eligible to receive the credit under this section.

Subd. 2.Credit amount.
For each qualifying property, the school building bond agricultural credit is equal to 70 percent of the property's eligible net tax capacity multiplied by the school debt tax rate determined under section275.08, subdivision 1b.

Subd. 3.Credit reimbursements.
The county auditor shall determine the tax reductions allowed under this section within the county for each taxes payable year and shall certify that amount to the commissioner of revenue under section270C.85, subdivision 2, clause (4). Any prior year adjustments shall also be certified. The commissioner shall review the certifications for accuracy, and may make such changes as are deemed necessary, or return the certification to the county auditor for correction. The credit under this section must be used to reduce the school district net tax capacity-based property tax as provided in section273.1393.

Subd. 4.Payment.
The commissioner of revenue shall certify the total of the tax reductions granted under this section for each taxes payable year within each school district to the commissioner of education, who shall pay the reimbursement amounts to each school district as provided in section273.1392.

Subd. 5.Appropriation.
An amount sufficient to make the payments required by this section is annually appropriated from the general fund to the commissioner of education.