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<br />BRIGGS AND MORGAN <br /> <br />What can't be abated? <br /> <br />What jurisdictions can <br />abate taxes? <br /> <br />How long? <br /> <br />Can abatements be <br />stacked? <br /> <br />What is the process? <br /> <br />Are "findings" required? <br /> <br />Can bonds be issued? <br /> <br />What can the dollars be <br />used for? <br /> <br />369177.1 <br /> <br />o <br />o <br /> <br />land value <br />fiscal disparities contribution <br />(Metro/taconite areas) <br />property in TIF districts <br />50% of schools' general education levy <br /> <br />o <br />o <br /> <br />Cities, Counties, School Districts and <br />Townships <br /> <br />Up to 10 years, but school district <br />abatements expire unless reauthorized <br />annually <br /> <br />No, there's an eight year waiting period <br />between abatements, except for value added <br />after expiration of the first abatement <br /> <br />Each jurisdiction must approve its own <br />abatement, adopting an lIabatement <br />resolution" after a public hearing <br /> <br />Yes, a IIcost/benefitll justification is required <br />and at least one of five "public interestll <br />criteria must apply, e.g., jobs, tax base or <br />redevelopment, but these are more generic <br />than TIF <br /> <br />Yes, but general obligation bonding requires <br />voter approval, unlike TIF <br /> <br />If simply given to the lIowner", anything - it's <br />just straight abatement of taxes paid; if used <br />to pay bonds, the use of the bond proceeds is <br />more limited, e.g., public improvements, land, <br />improvements to the property, costs of <br />issuance <br /> <br />2 <br />