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S.F. No. 2571 - Modifying Class Rate for Class 4d Properties
Author: Senator David H. Senjem
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
Date: March 19, 2019


SF 2571 sets the class rate for all Class 4d properties (qualifying low-income rental property) at 0.25%. Under current law, the class rate for 4d property is 0.75% on the first tier of value (first $150,000 for assessment year 2019) and 0.25% of the value exceeding the first tier amount for each unit.

Effective beginning with taxes payable in 2020.     

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