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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 354 - Providing a Uniform Rate for Late Payment of Property Tax (as proposed to be amended with A-5 amendment)
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Author:
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Senator Paul E. Gazelka
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Prepared By:
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Eric S. Silvia, Senate Counsel (651/296-1771)
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Date:
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March 10, 2015
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S.F. 354 eliminates the separate penalty rates for late payment of property taxes for homestead and nonhomestead property, so that both types property are now subject to the same uniform rate. The amendment specifies that no penalty shall accrue if the property tax payment is delivered by mail to the county treasurer, and the envelope containing payment is postmarked within two business days prescribed under this section.
The new penalty rate for both properties is as follows:
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Date |
1st half |
2nd half |
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May 16 |
2% |
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June 1 |
4% |
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July 1 |
5% |
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August 1 |
6% |
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September 1 |
7% |
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October 1 |
8% |
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October 16 |
8% |
2% |
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November 1 |
8% |
6% |
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December 1 |
8% |
8% |
Effective for property taxes payable in 2016 and thereafter.
ESS/tg
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
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Last review or update: 03/10/2015
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