New laws went into effect on January 1, 2007, some of which are certain to affect local Minneapolis real estate.
Twin Cities New Construction affected by New State Law
Installation of carbon monoxide detectors is required in all newly constructed homes and apartments. According to the law, operational detectors must be placed on each level of the residence and within ten feet of each sleeping room in any single or multiple-family dwelling.
The law is in place for newly constructed facilities with permits issued after January 1, 2007. It will apply to existing single-family dwellings on August 1, 2008, and for all multiple-family dwellings on August 1, 2009.
Sales Tax Increases in Minneapolis Area
Also of interest to the public is increases in Minneapolis and Hennepin County sales tax. The sales tax rate will go to 6.65% in Hennepin County and to 7.15% in Minneapolis. The tax revenue will mostly go to pay for the building of the new Twins stadium.