as introduced - 90th Legislature (2017 - 2018) Posted on 02/09/2017 06:13pm
A bill for an act
relating to special assessments; defining "benefit" for the purposes of special
assessments; amending Minnesota Statutes 2016, section 429.011, by adding a
subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2016, section 429.011, is amended by adding a subdivision
to read:
new text begin
"Benefit" means the increase in the fair market value of the real
property as measured by the difference between what a willing buyer would pay a willing
seller for the property before and after the improvement, based on the highest and best use
of the land. Present use of the land is not the controlling factor in determining whether the
land has received benefit from the improvement. The test is whether the land could be used
for purposes that would benefit from the improvement.
new text end