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Glossary: S
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A reduction in school property tax for agricultural, rural vacant, and managed forest land. The house, garage, and first acre of land of an agricultural homestead is not eligible for the credit.
The credit equals a percentage of the property's net tax capacity multiplied by the school debt tax rate. The percentage of the property’s net tax capacity is:
- 40% for taxes payable 2018 and 2019
- 50% for taxes payable in 2020
- 55% for taxes payable in 2021
- 60% for taxes payable in 2022
- 70% for taxes payable in 2023 and after
The school debt tax rate for each school district is based on the portion of the school district levy that is collected for debt service. Debt service levies are generally voter-approved and pay for new construction in a school district.
A local unit of government with taxing authority in a specific geographic area.
School district levies include all levies spread at the school district level and disparity reduction aid, which directly reduces property tax rates for school district levies. The data includes school district net tax capacity levies, school district referendum market value levies, the school district portion of fiscal disparities distribution levies, and disparity reduction aid to the school district.
Class 1d property is a structure (not land), which meets all of the following criteria:
- It is located on agricultural land
- It is occupied exclusively by seasonal farm workers during the time they work on that farm, and the occupants are not charged rent
- It meets all applicable health and safety requirements for the appropriate season
- It is not saleable as residential property because it does not comply with local ordinances relating to location in relation to streets or roads
Class 4c(10) is real property that is a seasonal restaurant and up to three acres of surrounding land located on a meandered lake.
A device whose primary purpose is to produce electricity by means of collecting, transferring, or converting solar generated energy.
A local unit of government with taxing authority in a specific geographic area. There are various types of special taxing districts, such as watershed districts, soil and water conservation districts, library districts, emergency medical services districts, housing and redevelopment authority districts, and economic development districts.
Special taxing district levies include all levies spread at the special taxing district level. The data includes special taxing district net tax capacity levies, special taxing district referendum market value levies, and the special taxing district portion of fiscal disparities distribution levies.
The state seasonal residential recreational levy applies to class 1c homestead resorts, class 4c commercial resorts, class 4c(12) non-commercial seasonal property (cabins), and class 4c(3)(ii) non-profit community service organizations. The tax base for the levy is called the state cabin net tax capacity (NTC).
Enacted in 2001, the state general property tax levy is applied only to certain properties. There are two state general levies: a levy of $784.59 million on commercial/industrial property and a levy of $44.19 million on seasonal residential recreational property and certain non-profit community service organizations.
Revenue from the tax is deposited in the state general fund.
There are two types of net tax capacity (NTC): local NTC and state NTC. The state NTC is the tax base for the state general property tax. The state general property tax applies only to certain classifications, including commercial/industrial seasonal residential recreational properties.
There are two state NTC bases for the two state levies: commercial/industrial and seasonal residential recreational. The seasonal residential recreational state NTC includes:
- Class 1c Homestead Resorts
- Class 4c(1) Commercial Resorts
- Class 4c(3)(ii) Non-profit Community Service Organizations and Veterans Organizations that make donations
- Class 4c(12) Non-Commercial Seasonal/Cabins
State NTC differs from local NTC in some cases:
- There is an exclusion for the first $2.3 million of market value of homestead resorts.
The first $76,000 of market value for cabins has a state NTC that is 40% of the local NTC.
The state commercial/industrial levy applies to all class 3 commercial, industrial, public utility (except electric generation machinery), and railroad property and class 5c(1) unmined iron ore and low-grade iron-bearing formations. The tax base for the levy is called the state commercial/industrial net tax capacity (NTC).
Enacted in 2001, the state general property tax levy is applied only to certain properties. There are two state general levies: a levy on commercial/industrial property and a levy on seasonal residential recreational property and certain non-profit community service organizations.
Revenue from the tax is deposited in the state general fund.
There are two types of net tax capacity (NTC): local NTC and state NTC. The state NTC is the tax base for the state general property tax. The state general property tax applies only to certain classifications, including commercial/industrial seasonal residential recreational properties.
There are two state NTC bases for the two state levies: commercial/industrial and seasonal residential recreational. The commercial/industrial state NTC includes:
- Class 3 Commercial/Industrial, Railroad, and Public Utility (except electric generation machinery)
- Class 5(1) Unmined Iron Ore
State NTC differs from local NTC in some cases. For commercial/industrial property, the first $100,000 of market value is excluded from state NTC.
The property types and market value levels that are subject to the State General Tax. Revenues from this tax base go into the state's general fund.
Enacted in 2001, the state general property tax levy applies only to certain properties. There are two state general levies:
- $737.09 million on commercial/industrial property
- $41.69 million on seasonal residential recreational property and certain non-profit community service organizations
The tax base for these levies is the state net tax capacity. Revenue from the tax is deposited in the state general fund.
There are two types of net tax capacity (NTC): local NTC and state NTC. The state NTC is the tax base for the state general property tax. The state general property tax applies only to certain classifications, including commercial/industrial seasonal and residential recreational properties. There are two state NTC bases for state levies: commercial/industrial and seasonal residential recreational.
The commercial/industrial state NTC includes:
- Class 3 Commercial/Industrial, Railroad, and Public Utility (except electric generation machinery)
- Class 5(1) Unmined Iron Ore
The seasonal residential recreational state NTC includes:
- Class 1c Homestead Resorts
- Class 4c(1) Commercial Resorts
- Class 4c(3)(ii) Non-profit Community Service Organizations and Veterans Organizations that make donations
- Class 4c(12) Non-Commercial Seasonal/Cabins
State NTC differs from local NTC in some cases:
- There are exclusions for the first $100,000 of market value for commercial/industrial property and the first $2.3 million of market value of homestead resorts.
The first $76,000 of market value for cabins has a state NTC that is 40% of the local NTC.