The bill amends Minnesota Statutes 2024, section 273.117, to allow for property valuation reductions on certain properties that have conservation restrictions or easements. Specifically, it introduces new provisions that define the types of conservation restrictions or easements eligible for valuation reductions. These include easements covering riparian buffers for water control, easements in counties with programs to protect farmland and natural areas, and easements in both metropolitan and nonmetropolitan counties that have authorized assessors to consider the impact of such restrictions on property value.

Additionally, the bill makes technical corrections to the existing language, including changes to the structure of the sections and the numbering of the provisions. The effective date for these changes is set for the assessment year 2026 and thereafter. Overall, the bill aims to incentivize conservation efforts by providing tax relief to property owners who engage in practices that protect natural resources.

Statutes affected:
Introduction: 273.117