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Municipal Revenue & Taxation <br />1-HPropertyValuationLimits/LimitedMarketValue <br />Metro Citiesopposestheuseofartificiallimitsin valuingpropertyatmarketfortaxation <br />purposes, sincesuch limitations shift tax burdens to other classes of property and create <br />disparitiesbetweenpropertiesofequalvalue. <br />1-IMarketValueHomesteadExclusionProgram(MVHE) <br />The Market Value Homestead Exclusion Program (MVHE) provides property tax relief to <br />qualifying homesteads, through reductions in property tax values, which shifts property taxes <br />within jurisdictions.TheMVHEreplacedaformerMarket ValueHomestead Credit Program, <br />which provided credits on local government tax bills to qualifying properties, with <br />reimbursementsprovidedbythestate tolocalgovernments. <br />Metro Cities opposes restoration of the former Market Value Homestead Credit, as <br />reimbursementstolocalgovernmentswereinconsistent,andencouragesfurtherstudyof <br />the exclusion program, with input by city officials, to determine the programÓs overall <br />efficacyandits effects onlocaltaxbases. <br />1-JMetropolitanAreaFiscalDisparitiesProgram <br />TheMetropolitanAreaFiscalDisparitiesProgram,enactedin1971,wascreatedfor thepurposes <br />of: <br />providing a wayforlocal governmentstoshareintheresourcesgeneratedbythegrowthof <br />themetropolitanareawithoutremovingexistingresources; <br />promotingorderly developmentoftheregionbyreducing theimpactoffiscal <br />considerationsonthe locationofbusiness and infrastructure; <br />establishing incentivesforall partsofthe areatowork forthegrowthoftheareaasa <br />whole; <br />helpingcommunitiesat variousstagesofdevelopment;and <br />encouragingprotectionoftheenvironmentbyreducingtheimpactoffiscal <br />considerationstoensureprotectionofparks,openspaceandwetlands. <br />MetroCitiessupportstheFiscalDisparitiesProgram. MetroCitiesopposesanydiversion <br />from the fiscal disparities pool to fund specific state, regional or local programs, goals or <br />projectsassuchdiversionscontradictthepurposes oftheprogram. <br />Legislation that would modify or impact the fiscal disparities program should only be considered <br />within a framework of comprehensive reform efforts of the stateÓs property tax, aids and credits <br />system.Any proposedlegislationthatwouldmodifyorimpactthefiscaldisparitiesprogram <br />2022 Legislative Policies <br />5 <br /> <br />