This bill establishes a property tax exemption for agricultural riparian buffers located on class 2a and 2b properties in Minnesota, as defined in section 103F.48. The exemption is contingent upon landowners complying with the requirements of that section. To obtain the exemption, taxpayers must submit an application to the county assessor, who, along with the local soil and water conservation district, will determine the eligible land. If a landowner fails to comply with the requirements, the exemption will be revoked on the next assessment date. The bill also includes provisions for the certification of information necessary for reimbursement to local taxing jurisdictions, which will be calculated and paid by the commissioner of revenue.

Additionally, the bill amends Minnesota Statutes 2024, section 273.1392, to include agricultural riparian buffer reimbursements as part of the payments certified to the Department of Education for school districts. The reimbursement amounts will be paid to local taxing jurisdictions, excluding school districts, in two equal installments during the tax payable year. The bill ensures that sufficient funds are appropriated from the general fund to cover these payments. The effective date for the provisions related to the agricultural riparian buffer exemption and reimbursements is set to begin with assessment year 2026 and fiscal year 2027, respectively.

Statutes affected:
Introduction: 272.02, 273.1392