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Minnesota Legislature

Office of the Revisor of Statutes

SF 2713

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18
1.19 1.20

A bill for an act
relating to taxation; property; exempting certain property within the city of
Fergus Falls; amending Minnesota Statutes 2006, section 272.02, by adding a
subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2006, section 272.02, is amended by adding a
subdivision to read:


new text begin Subd. 85. new text end

new text begin Fergus Falls historical zone. new text end

new text begin (a) Property located in the area of the
campus of the former state regional treatment center in the city of Fergus Falls, including
the five buildings and associated land that were acquired by the city prior to January 1,
2007, is exempt from ad valorem taxes levied under chapter 275.
new text end

new text begin (b) The exemption applies for 15 calendar years from the date specified by resolution
of the governing body of the city of Fergus Falls. For the final three assessment years of
the duration limit, the exemption applies to the following percentages of estimated market
value of the property:
new text end

new text begin (1) for the third to the last assessment year of the duration, 75 percent;
new text end

new text begin (2) for the second to the last assessment year of the duration, 50 percent; and
new text end

new text begin (3) for the last assessment year of the duration, 25 percent.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for property taxes payable in 2009
and thereafter.
new text end