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ity of <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />Item #4.8. <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Lori Johnson, Finance Director <br /> <br />October 12, 1998 <br /> <br />Discuss Green Acres Deferred <br />Assessments/Request to Forgive <br />Interest on Assessments <br /> <br />The city has received a request from Mr. Joe Bickman to forgive interest <br />which has accrued on his assessments which were deferred under the green <br />acres provision of Minnesota property tax laws. At the time the request was <br />made, Mr. Bickman was informed that the city most likely did not have the <br />legal authority to forgive interest on green acres deferred assessments. <br />However, staff indicated that the issue would be researched and presented to <br />the City Council for discussion. <br /> <br />Background <br /> <br />Agricultural properties meeting certain requirements receive special tax <br />treatment under Minnesota Statute 273.111, Agricultural Property Tax. In <br />summary, to qualify the property must consist of ten acres or more of <br />agricultural property and meet certain homestead, ownership, income, and <br />agricultural use requirements. The provisions' of the green acres statute are <br />administered by the county assessor. The county assessor determines the <br />eligibility of each parcel applying under this provision. Applications for <br />deferment of taxes and assessments shall be filed with the county assessor by <br />May i of the year prior to the year in which the taxes are payable. Once <br />approved as eligible property, the property shall continue to receive green <br />acres tax treatment for subsequent years until the property no longer <br />qualifies. The county assessor may require proof from the property owner <br />that the property does qualify under the provisions as outlined in the statute. <br /> <br />The statute also addresses the payment of special assessments which are <br />deferred under this provision by application of the property owner. <br />Subdivision 11 states that the payment of special assessments together with <br />the interest thereon shall be deferred as long as such property meets the <br />conditions contained in Subdivisions 3 and 6. When such property no longer <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />