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<br />. <br /> <br />. <br /> <br />. <br /> <br />Minn. Stat. ~ 272.02, subd. <br />1(6). <br /> <br />Minn. Stat. ~ 272.02, subd. <br />1(7). <br /> <br />A.G. Op. 474d (Aug. 28,1961). <br /> <br />Minn. Stat. ~ 274.01, subd. <br />I(a). <br /> <br />Minn. Stat. ~ 274.oJ, subd. 2. <br /> <br />492 <br /> <br />HANDBOOK FOR M rllONESOT A CITIES <br /> <br />. <br /> <br />Institutions of purely public charity; <br /> <br />Public property, including all city-owned property, for <br />exclusive public purpose use; and, <br /> <br />· Real and personal property for the abatement and <br />control of air or water pollution. <br /> <br />. <br /> <br />There are a number of other specific types of properties listed as <br />exempt from property taxes. (For a detailed list, see Minn. Stat. <br />~ 272.02.) <br /> <br />Local governments in Minnesota may not exempt any land from <br />taxation for the purpose of attracting or keeping industry. <br /> <br />Equalization procedures <br /> <br />Once the assessors have completed their work, the city, county <br />and state levels of government review and modify the <br />assessments with limitations. During this review, two kinds of <br />corrections are possible: the governing body may check the <br />assessor's lists for accuracy, hear individual complaints and <br />make any necessary adjustments; and, the governing body may <br />equalize the ratio of market to assessed market values. The first <br />function is the sole concern of the city board of review, while <br />the county and state boards devote more time to the latter task. <br /> <br />When the entire procedure is complete, the county auditor puts <br />the valuations in the records to use when making up the tax rate <br />figures. Only when all three levels of government have reviewed <br />and equalized the assessments, do they become the official <br />assessed values. <br /> <br />City board of review <br /> <br />The city council may serve as the board of review in cities. The <br />town board serves as the board of review for a town. <br /> <br />The city council may appoint a special board of review. It may <br />delegate to the board all of the powers and duties the council <br />would have if it acted as the board of review. The members of <br />the special board of review serve at the direction and discretion <br />of the council. The council determines the number of members, <br />the compensation and expense payments, and the term of office. <br />At least one member of the board must be an appraiser, realtor <br />or other person familiar with property valuations in the <br />assessment district. <br />