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RELEVANT LINKS: <br /> 2. Land values <br /> The value of real estate is not always obvious. When considering a land <br /> purchase, a city may want to check the following: <br /> • The property's value for the most recent property tax levy. <br /> • The property's value for the most recent special assessment. <br /> • The value that the land and its buildings(if any) are insured for fire <br /> damage, etc. <br /> • Any recent occurrences that could affect the land's value, such as new <br /> neighboring land developments or contamination. <br /> See Part IV-Real estate In addition to considering these elements, a city should also have the land <br /> professionals. professionally appraised. (Section IV of this memo discusses appraisers). <br /> F. Tax Forfeiture <br /> Minn.Stat.§282.01,subd. 1. Land held by private parties may be forfeited to the state due to failure to <br /> pay property taxes. When this occurs, state law recognizes that some lands <br /> in public ownership should be retained for the benefit of the public while <br /> other lands should be returned to private ownership. Reflecting this <br /> understanding,tax-forfeited land is classified in two ways—either as <br /> conservation land or non-conservation land when it is obtained by the state. <br /> 1. Land classified as non-conservation land <br /> Cities may obtain tax-forfeited land classified as non-conservation land in <br /> two ways. Cities may: <br /> • Pay the appraised value of the land and receive full, clear title to the <br /> land. <br /> • Receive the land for free for certain specified uses with an agreement <br /> that the lands may only be used for a specified public use for a certain <br /> amount of time. <br /> Cities may obtain land for free land designated as non-conservation land for <br /> the following specified uses: <br /> • a road, or right-of-way for a road. <br /> • a park that is both available to, and accessible by, the public that <br /> contains amenities such as campgrounds,playgrounds, athletic fields, <br /> trails, or shelters. <br /> • trails for walking,bicycling, snowmobiling, or other recreational <br /> purposes, along with a reasonable amount of surrounding land <br /> maintained in its natural state. <br /> League of Minnesota Cities Information Memo: 1/22/2015 <br /> Purchase and Sale of Real Property Page 6 <br />