253145 � ������
OR161NAL TO CI7Y CL6RK �
` CITY OF ST. PAUL C�LE NCIL NO.
OFFICE OF THE CITY CLERK
` COUNCIL RESOLUTION-GENERAL FORM
PRESENTED BY
COMMISSIONE DATF
RESOLVED That the Council of the City of Saint Paul
hereby approves :
'�A bill for an act relating to taxation;
providing for delayed assessment of taxes
on homesteaded property; amending Minnesota
Statutes 1g69, Chapter 272 , by adding a
section. ��
and recommends the same to the Ramsey County Senate and House
delegations .
FORM A�PROVED -
���T ��
Ass� Corporation Couns�
� � 8 ���`�
COUNCILMEN Adopted by the Councii 19_�
Yeas Nays �A� � � 19�''
Butler
Carlson / ApP 19—
Levine �O
—�n Favor
Meredith
Sprafka '�
A gainst
Mr. President, McCarty �?iJBt,ISHED MAR 2 0 197:i
��
, ' A bill for an act
' relating .to taYation; providing for delayed
assessment of taxes on homesteaded property;
amending Minnesota Statutes 1969, Chapter
272 , by adding a section.
�L IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section i. Minnesota Statutes 1969, Chap ter 2�2 , is
� amended by adding a section to read:
272. �OMESTEADED PROPERTY; DELAYED ASSESSMENTS_7
Subdivision 1. In determining the value of lands fo� the
purpose of taxation, when said lands are homesteaded in
accordance with Section 273. 13, and the reassessment
thereof results in an increase of 50 percent or more in
real property taxes due and payable, 50 percent of the
value of the increase shall be considered at the end of
the first year following the date of the reassessme nt, �5
percent of the value of the increase shall be considered �
at the end of the second year fo llowing the date of the
reassessment, and at the end of the thircl year �ollowing
the date of reassessment, the total value thereof shall
be considered.
Subd. 2. Application fo r delayed assessment ahall
be on forms prescribed by the commissioner of taxation. �
Where delayed assessment is granted, the assessor shall
record a notice thereof with the registe� of deeds which
shall set forth the amount of the asseasment to be added
at the end of each one-year period by reason of the
delayed assessment .
Sec. 2. This act ia effeetive for assessments from
' and af ter June 30, 1971.
i
� ' �•
������
Delayed Assessments for Homesteaded Propert.y
A bill providing relief on a percentage formula for
reassessments in excess of 50 percent on homesteaded
property and providing for application for relief to
the commissioner of taxation.