Laserfiche WebLink
RC 18- <br />Tax Abatement Levy <br />Tax abatement in MN works more like a rebate than an <br />abatement <br />Certify tax levy equal to the amount of taxes to be <br />abated <br />Tax abatement levy is spread the same as the general <br />fund levy <br />Revenue from tax abatement levy can be paid to a <br />developer or retained by city for qualified uses <br />7 <br />А <br />RC 18- <br />Why Use Tax Abatement? <br />Projects that do not meet criteria for other financing, <br />including criteria for Tax Increment Financing: <br />Redevelopment lacking “substandard” buildings <br />Housing without specific income requirements <br />Economic development other than stated “industrial” <br />uses in TIF Act <br />8 <br />Б <br />Northland Public Finance4 <br />49 <br /> <br />