3. HRSR 10-17-2008 - Laserfiche WebLink

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Minnesota Statutes Display Document 2 of 6 Minn~sota~ Statuttx Minnesota Statutes 2004 Display Document 2 of 6 Search Te~ ,~unnary Eu ~{r~ p~~ Prior To~ pawn bottom Neat] N~ Section: 469.177 continued... The assessor shall review the plans and specifications for the improvements to be constructed, review the market value previously assigned to the land upon which the improvements are to be constructed and, so long as the minimum market value contained in the massessment(~l ~agreement~ appears, in the judgment of the assessor, to be a reasonable estimate, shall execute the following certification upon the agreement: The undersigned assessor, for the assessment of the certifies that the market the land and improvements being legally responsible above described property, values assigned to are reasonable. The ~assessmentm magreement~ shall be filed for record and recorded in the office of the county recorder or the registrar of titles of each county where the real estate or any part thereof is situated. After the agreement becomes effective for assessment purposes, the assessor shall value the property under section 273.11, except that the market value assigned shall not be less than the minimum market value established by the ~assessment~ ~agreementm. The assessor may assign a market value to the property in excess of the minimum market value established by the massessmentl~ magreementm. The owner of the property may seek, through the exercise of administrative and legal remedies, a reduction in market value for property tax purposes, but no city assessor, county assessor, county auditor, board of review, board of equalization, commissioner of revenue, or court of this state shall grant a reduction of the market value below the minimum market value established by the massessment~ magreement during the term of the agreement filed of record regardless of actual market values which may result from incomplete construction of improvements, destruction, or diminution by any cause, insured or uninsured, except in the case of acquisition or reacquisition of the property by a public entity. Recording an massessment~ ~agreementm constitutes notice of the agreement to anyone who acquires any interest in the land or improvements that is subject to the massessment~ magreement~, and the agreement is binding upon them. An massessmentm magreement~ may be modified or terminated by mutual consent of the current parties•.to the agreement. Modification or termination of an ~assessmentm magreement~ must be approved by the governing body of the municipality. If the estimated market value for the property for the most recently Page 1 of 2 http://ww2.revisor.leg.state.mn.us:8181 /SEARCH/BASIS/mnstat/public/www/DDW?W... 10/ 14/2005