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Chapter 473F
Section 473F.10
Topics
This is an historical version of this statute chapter. Also view the most recent published version.
473F.10 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, as the case may be, by
November 15, the net tax capacity of the affected property shall, for purposes of sections 473F.03
to 473F.08, be determined from the abstracts filed by the county auditor with the commissioner
of revenue.
Subd. 2. Adjustment in succeeding year. If the reassessment, when completed and
incorporated in the commissioner of revenue'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 473F.03 to 473F.08, the increase
in the net tax capacity of commercial-industrial property in that municipality in the succeeding
year, as otherwise computed under section 473F.06, shall 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 473F.03 to 473F.08, 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 473F.06 to an amount less than zero.
Subd. 3. Application. Subdivisions 1 and 2 shall not apply to the determination of the
tax rate under section 473F.08, subdivision 4, or to the determination of the net tax capacity
of commercial-industrial property and each item thereof for purposes of section473F.08,
subdivision 6 .
History: Ex1971 c 24 s 10; 1973 c 582 s 3; 1986 c 444; 1988 c 719 art 5 s 63; 1989 c 329
art 13 s 20; 1Sp1989 c 1 art 2 s 11
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, as the case may be, by
November 15, the net tax capacity of the affected property shall, for purposes of sections 473F.03
to 473F.08, be determined from the abstracts filed by the county auditor with the commissioner
of revenue.
Subd. 2. Adjustment in succeeding year. If the reassessment, when completed and
incorporated in the commissioner of revenue'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 473F.03 to 473F.08, the increase
in the net tax capacity of commercial-industrial property in that municipality in the succeeding
year, as otherwise computed under section 473F.06, shall 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 473F.03 to 473F.08, 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 473F.06 to an amount less than zero.
Subd. 3. Application. Subdivisions 1 and 2 shall not apply to the determination of the
tax rate under section 473F.08, subdivision 4, or to the determination of the net tax capacity
of commercial-industrial property and each item thereof for purposes of section
subdivision 6
History: Ex1971 c 24 s 10; 1973 c 582 s 3; 1986 c 444; 1988 c 719 art 5 s 63; 1989 c 329
art 13 s 20; 1Sp1989 c 1 art 2 s 11
Official Publication of the State of Minnesota
Revisor of Statutes