Local government units levy limits establishment provision

Summary

The bill rewrites Minnesota statutes to set a local unit's levy limit base as the final levy certified the prior year, with adjustments for consolidation, annexation, price inflation, and population growth. It also creates a new formula for adjusted levy limits for taxes payable in 2027 and later, affecting every local governmental unit that levies property taxes. The changes aim to make levy calculations more reflective of current economic and demographic conditions.

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