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<br />City o.f Arden Hills <br />2005 Assessment Policy <br /> <br />HARDSHIP DEFERRALS <br /> <br />. <br /> <br />Minnesota Statute No. 435.193 allows Ihe Cily, at its own discretion, to defer the <br />payment of any assessment for any homestead property, thai is a primary place of <br />residence, owned by a person sixty-five (65) years of age or older, or retired by virtue <br />of a permanent and 10tal disability for whieh it would be a hardship to make Ihe <br />payments. <br /> <br />In order to receive such a deferment, the affected person must establish the economic <br />hardship that would be incurred to Ihe reasonable satisfaction of the Arden Hills City <br />Council by providing documentation showing an annual gross income less than fifty <br />percent (50%) of the Ramsey County median household income as determined by the <br />most recent census. <br /> <br />The deferral will lasl for a period of nol more than ten (10) years, and will terminate <br />before ten (10) years if anyone of the following conditions is present: <br /> <br />A. The owner of the property dies and the spouse is nol eligible for a <br />defermenl; <br />B. The property is sold; <br />C. The property is no longer homestead; . <br />D. The City Council determines that there is no longer hardship incurred in <br />immediately requiring either full or partial paymenl of the assessment. <br /> <br />The Cily reserves the right to periodically reques1 verification of continued eligibility <br />for a hardship deferral. <br /> <br />It should be noted Ihat during 1he term of Ihe deferral, inlerest will accrue. At lhe <br />termination of the deferral period, interes1 and principal will be due in a lump sum <br />amount. <br /> <br />An appIicalion for deferment of special assessments is available al the City Offices. <br />It is Ihe responsibility of the resident 10 submit a completed deferral form, along with <br />tax documents, to the Finance Director for approval. The submission of a deferral <br />form to the Cily does not automatically qualify a resident for the deferral. If a residenl <br />is approved for the deferral, the City staff will notify the resident of the approval. <br />The City staff on a periodic basis may request the resident to verify their eligibility. <br /> <br />. <br /> <br />2005 Assessment Policy Manual - Page 12 <br />