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4d Low Income Rental Housing First-Tier Valuation Limit

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Beginning with the 2014 assessment abstract, two valuation tiers are applied to units of property classified as 4d. The first tier has a class rate of 0.75 percent , and the class rate above the first tier is reduced to 0.25 percent for each unit. The Department of Revenue certifies the limit each November 1 for the upcoming assessment year.

For assessment years 2022 and 2023, the first value tier is set at $100,000. The firsttier limit was previously adjusted annually by the average statewide change in estimated market value of property classified as class 4a apartments and 4d lowincome rental housing properties, excluding valuation change due to new construction. Beginning with assessment year 2024, this value may be adjusted again.

The table below shows the certified 4d low-income rental housing first-tier valuation limit amounts.

Assessment Year ​First-Tier Valuation Limit
2023 $100,000
2022 $100,000
2021 $174,000
2020 $162,000
​2019​ ​$150,000
​2018 ​$139,000
2017​​ ​$121,000
2016​ $115,000​
​2015 $106,000​
​2014 $100,000

 

For more information, see Minnesota Statute 273.128, subdivision 3.  

Questions?

If you have questions, email us at Proptax.division@state.mn.us

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