2007 Minnesota Statutes

276A.08 REASSESSMENTS AND OMITTED PROPERTY.
    Subdivision 1. Reassessment orders. If the commissioner of revenue orders a reassessment
of all or any portion of the property in a municipality other than in the form of a mathematically
prescribed adjustment of valuation, or if omitted property is placed upon the tax rolls, and the
reassessment has not been completed or the property placed upon the rolls by November 15, the
net tax capacity of the affected property must, for purposes of sections 276A.02 to 276A.06, be
determined from the abstracts filed by the county auditor with the commissioner of revenue.
    Subd. 2. Adjustment of value. If the reassessment, when completed and incorporated
in the commissioner's certification of the net tax capacity of the municipality, or the listing of
omitted property, when placed on the rolls, results in an increase in the net tax capacity of
commercial-industrial property in the municipality which differs from that used, pursuant to
subdivision 1, for purposes of sections 276A.02 to 276A.06, the increase in the net tax capacity of
commercial-industrial property in that municipality in the succeeding year, as otherwise computed
under section 276A.04, must be adjusted in a like amount, by an increase if the reassessment or
listing discloses a larger increase than was used for purposes of sections 276A.02 to 276A.06,
or by a decrease if the reassessment or listing discloses a smaller increase than was used for
those purposes, provided that no adjustment shall reduce the amount determined under section
276A.04 to an amount less than zero.
    Subd. 3. Exceptions. Subdivisions 1 and 2 do not apply to the determination of the tax
rate under section 276A.06, subdivision 4, or to the determination of the net tax capacity
of commercial-industrial property and each item thereof for purposes of section 276A.06,
subdivision 7 .
History: 1996 c 471 art 11 s 10