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Municipal Revenue & Taxation <br />should occur in a timely manner and data reviewed periodically to ensure the database's <br />accuracy and usefulness. <br />1-G Property Valuation Limits/Limited Market Value <br />Metro Cities opposes the use of artificial limits in valuing property at market for taxation <br />purposes, since such limitations shift tax burdens to other classes of property and create <br />disparities between properties of equal value. <br />1-H Market Value Homestead Exclusion Program <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. The MVHE replaced a former Market Value Homestead Credit Program, <br />which provided credits on local government tax bills to qualifying properties, with <br />reimbursements provided by the state to local governments. <br />Metro Cities opposes restoration of the former Market Value Homestead Credit, as <br />reimbursements to local governments were inconsistent, and encourages further study of <br />the exclusion program, with input by city officials, to determine the program's overall <br />efficacy and its effects on local tax bases. <br />1-1 Metropolitan Area Fiscal Disparities Program <br />The Metropolitan Area Fiscal Disparities Program, enacted in 1971, was created for the purposes <br />o£ <br />• providing a way for local governments to share in the resources generated by the growth <br />of the metropolitan area without removing existing resources; <br />• promoting orderly development of the region by reducing the impact of fiscal <br />considerations on the location of business and infrastructure; <br />whole; <br />establishing incentives for all parts of the area to work for the growth of the area as a <br />helping communities at various stages of development; and <br />• encouraging protection of the environment by reducing the impact of fiscal <br />considerations to ensure protection of parks, open space and wetlands. <br />Metro Cities supports the Fiscal Disparities Program. Metro Cities opposes any diversion <br />from the fiscal disparities pool to fund specific state, regional or local programs, goals or <br />projects as such diversions contradict the purposes of the program. <br />2019 Legislative Policies <br />