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C1126 <br />JZ 1126 <br />1 A bill for an act <br />2 relating to taxation; providing that improvements <br />3 to real property used for a homestead not be added <br />4 to increased valuation of property; amending <br />5 Minnesota Statutes 19761 Section 273.11, <br />6 Subdivision It and by adding a subdivision. <br />7 <br />8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: <br />9 Section 1. Minnesota Statutes 1976, Section 273.111 <br />10 Subdivision it is amended to read; <br />11 273.11 EVALUATION OF PROPERTY.) Subdivision 1, Excect <br />12 as provided in subdivision 2 or subdivision 6 or section <br />13 273.17. subdivision It all property shall be valued at its <br />14 market value. In estimating and determining such value, the <br />15 assessor shall not adopt a lower or different standard of <br />16 value because the same is to serve as a basis of taxation, <br />17 nor shall he adopt as a criterion of value the price for <br />18 which such property would sell at auction or at a forced <br />19 sale, or in the aggregate with all the property in the town <br />20 or district; but he shall value each article or description <br />21 of property by itself, and at such sum or price as he <br />22 believes the same to be fairly worth in money. In assessing <br />23 any tract or lot of real propertyr the value of the land, <br />1 <br />