Valuation reductions permission on certain property with conservation restriction or easements

This bill allows Minnesota property assessors to reduce the taxable value of land subject to certain conservation easements or restrictions. It directly affects landowners who hold qualifying conservation easements on their property, particularly in rural areas. The key provision requires that the easement must be for conservation purposes, recorded on the property, and the land must be used according to the easement terms. However, the reduction does not apply to easements covering riparian buffers, properties in counties with specific farmland protection programs, or properties with easements entered before May 2013. The change takes effect for property tax assessments starting in 2026.