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Page 2 <br /> <br />469.1812 Definitions. <br /> <br /> Subd. 1. Scope. For purposes of sections 469.1812 to 469.1815, the following terms have the <br />meanings given. <br /> <br /> Subd. 2. Governing body. "Governing body" means, for a city, the city council; for a <br />school district, the school board; for a county, the county board; and for a town, the board of <br /> <br />supervisors. <br /> <br /> Subd. 3. <br /> <br /> Municipality. "Municipality" means a statutory or home rule charter city or a town. <br /> <br /> Subd. 4. Political subdivision or subdivision. "Political subdivision" or "subdivision" means <br />a statutory or home rule charter city, town, school district, or county. <br /> <br />469.1813 Abatement authority. <br /> <br /> Subd. la. Use of Term. As used in this section and sections 469.18t4 and 469.1815, <br />"abatement" includes a deferral of taxes with abatement of interest and penalties unless the context <br />indicates otherwise. <br /> <br /> Subd. 1. Authority. The governing body ora political subdivision may grant an abatement of <br />the taxes imposed by the political subdivision on a parcel of property, or defer the payments of the taxes <br />and abate the interest and penalty that otherwise would apply, if: <br />(a) it expects the benefits to the political subdivision of the proposed abatement agreement to at least <br />equal the costs to the political subdivision of the proposed agreement or intends the abatement to phase <br />in a property tax increase, as provided in clause (b) (7); and <br />(b) it finds that doing so is in the public interest because it will: <br /> <br />(1) increase or preserve tax base; <br /> <br />(2) provide employment opportunities in the political subdivision; <br /> <br />(3) provide or help acquire or construct public facilities; <br /> <br />(4) help redevelop or renew blighted areas; or <br /> <br />(5) help provide access to services for residents of the political subdivision; or <br /> <br />(6) finance or improve public infrastructure; or <br /> <br />(7) phase in a property tax increase on the parcel resulting from an increase of 50 percent or <br />more in one year on the estimated market value of the parcel, other than increase attributable to <br />improvement of the parcel. <br /> <br /> <br />