The bill amends Minnesota Statutes 2022, section 272.01, subdivision 2, to modify the property tax exemption for certain airport properties. It introduces new provisions that clarify the taxation of properties used by private entities for profit, particularly in relation to airports. Notably, the bill specifies that the tax exemption does not apply to properties located at airports owned or operated by the Metropolitan Airports Commission or cities with populations over 50,000, with a temporary 50% reduction in net tax capacity for properties owned by cities with populations between 50,000 and 150,000 for the years 2024 through 2035. Additionally, it outlines that hangars leased for non-aviation-related businesses will also not be exempt from taxation.

The bill also includes several deletions and insertions to refine the language regarding exemptions. For instance, it removes previous exceptions related to agricultural use of airport properties and clarifies the conditions under which certain properties, such as check-in areas and boarding areas, are exempt from taxation. The effective date for these changes is set for property taxes payable in 2024. Overall, the bill aims to ensure that properties used for profit at public airports contribute to local tax revenues while providing specific exemptions for certain public uses.

Statutes affected:
Introduction: 272.01