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<br /> <br />Minnesota Statutes Display Document 2 of 6 <br /> <br />Page 1 of2 <br /> <br /> <br />Minnesota Statutes 2004 Display Document 2 of 6 <br /> <br /> <br />Section: 469.177 continued... <br /> <br />The assessor shall review <br />the plans and specifications for the improvements to be <br />constructed, review the market value previously assigned to the <br />land upon which the improvements are to be constructed and, so <br />long as the minimum market value contained in the Bassessment. <br />Bagreementli appears, in the judgment of the assessor, to be a <br />reasonable estimate, shall execute the following certification <br />upon the agreement: <br /> <br />The undersigned assessor, being legally responsible <br />for the assessment of the above described property, <br />certifies that the market values assigned to <br />the land and improvements are reasonable. <br /> <br />The Bassessmentli Bagreementli shall be filed for record and <br />recorded in the office of the county recorder or the registrar <br />of titles of each county where the real estate or any part <br />thereof is situated. After the agreement becomes effective for <br />assessment purposes, the assessor shall value the property under <br />section 273.11, except that the market value assigned shall not <br />be less than the minimum market value established by the <br />Bassessmentli Bagreementli. The assessor may assign a market value to <br />the property in excess of the minimum market value established <br />by the Bassessmentli Bagreementli. The owner of the property may <br />seek, through the exercise of administrative and legal remedies, <br />a reduction in market value for property tax purposes, but no <br />city assessor, county assessor, county auditor, board of review, <br />board of equalization, commissioner of revenue, or court of this <br />state shall grant a reduction of the market value below the <br />minimum market value established by the Bassessmentli Bagreement. <br />during the term of the agreement filed of record regardless of <br />actual market values which may result from incomplete <br />construction of improvements, destruction, or diminution by any <br />cause, insured or uninsured, except in the case of acquisition <br />or reacquisition of the property by a public entity. Recording <br />an Bassessmentli Bagreementli constitutes notice of the agreement to <br />anyone who acquires any interest in the land or improvements <br />that is subject to the Bassessmentli Bagreementli, and the agreement <br />is binding upon them. <br /> <br />http://WW2.revisor.leg.state.mn.us:8181/SEARCH/BASIS/mnstat/public/wwwIDDW?W. " <br /> <br />10/14/2005 <br /> <br /> <br />An Bassessmentli Bagreementli may be modified or terminated by <br />mutual consent of the current parties to the agreement. <br />Modification or termination of an Bassessmentli Bagreementli must be <br />approved by the governing body of the municipality. If the <br />estimated market value for the property for the most recently <br />