Minn. Farm Families Could Get Property Tax Relief
MINNEAPOLIS (AP) – Most Minnesota farm families could get an extra $260 in property tax relief per year under legislation approved by the House that’s meant to ease the squeeze they’re feeling between rising property taxes and falling crop prices.
The proposal would tap the state’s budget surplus for $18 million in relief for more than 90,000 homesteaded farms. It’s part of a larger property tax bill the Minnesota House passed Friday.
While farm income has fallen, Rep. Jim Davnie, DFL-Minneapolis, says farmland valuations haven’t so far.
Thom Peterson of the Minnesota Farmers Union says the relief would be welcome.
It’s not clear if there will be a similar provision in the Senate’s property tax relief bill, which has not been released. But supporters say they’re hopeful that the idea will become law.