Minnesota § 515A.1-105 515A.1-105 PROPERTY TAXATION.

Minnesota Statutes

§ 515A.1-105 — 515A.1-105 PROPERTY TAXATION.

Minnesota § 515A.1-105

PartPROPERTY AND PROPERTY INTERESTS

Ch. 515AUNIFORM CONDOMINIUM ACT

This text of Minnesota § 515A.1-105 (515A.1-105 PROPERTY TAXATION.) 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. § 515A.1-105 (2026).

Text

Subdivision 1.Homestead.

(a)Each unit together with its common element interest constitutes for all purposes a separate parcel of real estate.

(b)If a declaration is recorded prior to 30 days before any installment of real estate taxes becomes payable, the local taxing authority shall split the taxes so payable on the condominium among the units. Interest and penalties which would otherwise accrue shall not begin to accrue until at least 30 days after the split is accomplished.

(c)A unit used for residential purposes together with not more than two units used for vehicular parking and their common element interests shall be treated the same as any other real estate in determining whether homestead exemptions or classifications shall apply. Subd. 2.Market valuation. For purposes of pro

Free access — add to your briefcase to read the full text and ask questions with AI

Subdivision 1.Homestead.
(a) Each unit together with its common element interest constitutes for all purposes a separate parcel of real estate.
(b) If a declaration is recorded prior to 30 days before any installment of real estate taxes becomes payable, the local taxing authority shall split the taxes so payable on the condominium among the units. Interest and penalties which would otherwise accrue shall not begin to accrue until at least 30 days after the split is accomplished.
(c) A unit used for residential purposes together with not more than two units used for vehicular parking and their common element interests shall be treated the same as any other real estate in determining whether homestead exemptions or classifications shall apply.

Subd. 2.Market valuation.
For purposes of property taxation, the residential units in a structure or building which are initially constructed as condominiums or are being converted into condominiums shall be valued as provided in section273.11, subdivision 9.