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<br />Ch. 231, Art. 2 <br /> <br />LAWS of MINNESOTA for 1997 <br /> <br />Sec. 45. [469.1812J DEFINITIONS. <br /> <br />Subdivision 1. SCOPE. For purposes of sections 469.1812 to 469.1815, the~ <br />ing tenns have the meanings given. <br /> <br />Subd. 2. GOVER,~ING BODY. "Governing body" means, for a city, the city coun- <br />cil; foraschOol district, the school board; for a county, the county board; and for a town, <br />the annual meeting~the town. ---------- <br /> <br />Subd.3. MUNICIPALITY. "Municipality" means a statutory or home rule charter <br />-- ------ <br />city ~! town. <br />Subd. 4. POLITICAL SUBDIVISION OR SUBDIVISION. "Political subdivi- <br />sion" ~ "subdivision" means! statutory or home rule charter city, town, school district, <br />~ county. <br />Sec. 46. [469.1813J ABATEMENT AUTHORlTY. <br /> <br />Subdivision 1. AUTHORITY. The governing body ~ ~ political subdivision may <br />grant an abatement of the taxes imposed by the political subdivision on ~ parcel ~ proper- <br />ty, if: <br /> <br />(a) !! expects the benefits ~ the political subdivision of the proposed abatement <br />agreement to ~ least equal the costs ~ the political subdivision of the proposed agree- <br />ment; and <br /> <br />(h) ~~ !inds that ~oing ~ ~ ~ the public interest because !! will: <br /> <br />(1) incr::asc ~ preserve tJX base; <br /> <br />(2) provide employment opportunities ~ the political subdivision: <br /> <br />(3) provide ~ help acquire ~ construct public facilities; <br /> <br />(4) help redevelop or ~ blighted areas; ~ <br /> <br />(5) hell' provide ~ ~ services for residents of the political suhdivision. <br /> <br />Subd. 2. A8ATEl\IENT RESOLUTIO;-.I. The governing hndy of a political subdi- <br />vision may grant an abatement only by adopting an abatement resolution~riigihe <br />tenns of thCiiiJii"tenlent. The resolutiOn"""iiiiiSi31So include a specific statement as to the <br />nature and extent of the public benefits which I1iC gOVCriiing ~pects 10 resulifrom <br />the agrceriienl."Th~ iiilaiCiliCii"t may reduce allOr part of thc property lax hivied by the <br />~~~~cal subdiviSIOn on the parcel. The politicaTsUhdiVTsTOn may limitlh~mciit <br /> <br />~ ~ ~ specific dollar amount per year ~ ~ total: <br /> <br />(2) ~ the increase ~ pn'perty taxes resulling from improvcment of Ihe property; <br /> <br />(3) to the increascs in properly taxes resulting from increase:-. inlhe markct value or <br />tax C;ip:1C~t.r ~! the prop~rty; 12: - - - --- - - ---- <br /> <br />(4) ~ .lOy other milllncr the guvcrning hody ~ the :-.uhdivisilln determines ~ IIp- <br />propriate. <br /> <br />...... <br /> <br />The pulitkal suhdivisiun may not ahale lax aurihulahk In the valuc uf the land or the <br />urea~1~~ I;;X under chapter 276A ~ 47.W. - - - - - -- <br /> <br />Suhd.3. SCIIOO!. J)(STRICT ABATEMENT I'i{OCEUUIU:. Nlllwithsland- <br />ing Ihe "'lH)lInIS in suhdivision 2. a schou I districlthat j!r;mls an ahatement under Ihis sec. <br />li;nmll...TTImIIliiC ;ahalement fllr-;any property \I;nol~ iii:,'iiaiiaiiiOilllt cljual to the <br />product oC(1Tthe propcrty's nctlax capilcit)". .mJ(2)tliCliITfoocCl1-;:iWCCii the district's <br />Iota I lax rale fo'rthat year ;and one-haiTiifi1iC generalCliucalion tax rate for that year. An <br />ii"ha\ciTh:iiigraiiiCliUndcr this !-cction is not IIn abaiCriient for purposcs of state aid or local <br />h:vy under chapter 124. ----- ------ <br />