Minnesota § 473.341 - TAX EQUIVALENTS
Full text of Minnesota Minnesota Statutes § 473.341 — TAX EQUIVALENTS, with citation guidance and answers to common questions.
§ 473.341. TAX EQUIVALENTS
In the year in which the Metropolitan Council or an implementing agency as defined in section 473.351 acquires fee title to any real property included in the regional recreation open space system, the Metropolitan Council shall grant sufficient funds to the appropriate implementing agency to make the tax equivalent payment required in this section. The council shall determine the total amount of property taxes levied on the real property for municipal or township purposes for collection in the year in which title passed. The municipality or township in which the real property is situated shall be paid 180 percent of the total tax amount determined by the council. If the implementing agency has granted a life estate to the seller of the real property and the seller is obligated to pay property taxes on the property, this tax equivalent shall not be paid until the life estate ends. All amounts paid pursuant to this section are costs of acquisition of the real property acquired.
History:
1975 c 13 s 51; 1994 c 587 art 5 s 23
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 473.341
What does Minnesota Statutes § 473.341 cover?
Section 473.341 ("TAX EQUIVALENTS") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 473.341?
A common citation format is "Minnesota Statutes § 473.341" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 473.341 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.