2002 Minnesota Statutes

     272.0212 Border development zone property. 

    Subdivision 1.    Exemption.  All qualified property in 
 a zone is exempt to the extent and for the duration provided by 
 the zone designation and under sections 469.1731 to 469.1735. 

    Subd. 2.    Limits on exemption.  Property in a zone is 
 not exempt under this section from the following: 

    (1) special assessments; 

    (2) ad valorem property taxes specifically levied for the 
 payment of principal and interest on debt obligations; and 

    (3) all taxes levied by a school district, except equalized 
 school levies as defined in section 273.1398, subdivision 1, 
 paragraph (e). 

    Subd. 3.    State aid.  Property exempt under this 
 section is included in the net tax capacity for purposes of 
 computing aids under chapter 477A. 

    Subd. 4.    Definitions.  (a) For purposes of this 
 section, the following terms have the meanings given. 

    (b) "Qualified property" means class 1, 3, 4, and 5 
 property as defined in section 273.13 that is located in a zone 
 and is newly constructed after the zone was designated, 
 including the land that contains the improvements. 

    (c) "Zone" means a border city development zone designated 
 under the provisions of section 469.1731. 

    Subd. 5.    Finding required.  The exemption under this 
 section is available to a parcel only if the municipality 
 determines that the granting of the tax exemption is necessary 
 to enable a business to expand within a zone or to attract a 
 business to a zone.  

    HIST: 1998 c 389 art 12 s 1; 2002 c 377 art 7 s 1 

*   NOTE:  The amendment to subdivision 4 by Laws 2002, chapter 
*377, article 7, section 1, is effective beginning for assessment 
*year 2003.  Laws 2002, chapter 377, article 7, section 1, the 
*effective date.