The bill amends Minnesota Statutes 2024, section 273.117, to allow for property tax valuation reductions on certain properties that have conservation restrictions or easements. The new language specifies that properties eligible for these reductions include those with conservation restrictions or easements covering riparian buffers for water control, easements in counties with programs to protect farmland and natural areas, and those in metropolitan counties. Additionally, it allows for reductions in nonmetropolitan counties where the assessor has been authorized to consider the impact of such restrictions or easements on property value.

The bill also makes technical corrections to the existing law, including changes in wording for clarity. Notably, it replaces the term "which" with "that" and modifies the structure of the sections for better organization. The effective date for these changes is set for the assessment year 2026 and thereafter.

Statutes affected:
Introduction: 273.117