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As mentioned above,for a municipality and In any given year, the total amount of property <br /> • county, the abatement may be granted for up to a taxes that can be abated by a political <br /> 10-year period without modification, or the terms subdivision under the Tax Abatement Law may <br /> may be modified every second year. However, not exceed(i)five percent of the current levy,or <br /> the school district must initially approve the (ii)$100,000, whichever is greater. <br /> abatement, but can only grant abatements one <br /> year at a time. A school district cannot abate its Bonds issued and secured by tax abatements are <br /> entire levy, but can abate a portion of its levy not subject to the referendum requirement under <br /> determined by formula. Chapter 475 of Minnesota Statutes. <br /> • <br /> • <br /> 52 <br />