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Tax Abatement Basics <br />•Defined in Minnesota Statutes 469.1812 to 469.1815 <br />(as amended) <br />•NOT an actual abatement of taxes <br />•Permits levy of taxes for application toward <br />development purposes <br />•Adopted by resolution at a noticed meeting (does not <br />require property owner consent) <br />•Abatement resolution indicates terms: amount, length, <br />public benefit, etc. <br />23 <br />