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Page 1 of 2 , <br />Joel Hanson <br />From: Carlson, Gary [gcarlson @LMNC.ORG] <br />Sent: Tuesday, June 15, 2004 2:49 PM <br />To: Joel Hanson <br />Subject: RE: <br />Joel, <br />Sorry for the delayed response. The 4d class was repealed during the 2001 special session in Chapter 5, which was the tax bill. <br />The statues, MS 273.126, include a footnote that reads: <br />"NOTE: This section is repealed by Laws 2001, First Special Session chapter 5, article 3, section 96, effective for property taxes <br />payable in 2004 and any agreement entered into pursuant to the provisions of this section and section 462A.071 expires, effective <br />January 1, 2004, regardless of the term of the agreement. Laws 2001, First Special Session chapter 5, article 3, section 96, <br />paragraph (d)." <br />There was a provision included in the Senate omnibus tacx bill that would have reinstituted the class at a .55% class rate if 75 <br />percent of the units in a rental property met certain low- income criteria. However, there was no omnibus tax bill passed this year <br />and therefore, the Senate 4d provisions did not become law. If you need more specifics on the Senate proposal let me know. <br />Let me know if you have any additional questions. <br />Gary <br />Original Message <br />From: Joel Hanson [mailto:joel .hanson @ci.little- canada.mn.us] <br />Sent: Tuesday, June 15, 2004 2:17 PM <br />To: Carlson, Gary <br />Subject: <br />Gary: <br />Any insight on the topic below would be appreciated. <br />JH <br />Gary: <br />Can you tell me the exact status of the 4d property class rate? <br />We have an agreement with an apartment owner that we provided tax exempt financing to that requires him to <br />contribute dollars based on the <br />savings the 4d rate generated versus old class rates. While I realize current class rates did not offer any breaks <br />between 4d and standard multi - family, does 4d still exist. (A person in the County Assessor's office said no, but it is <br />still listed in the class rate schedules.) <br />Also, I had heard there were possible positive changes to this classification being proposed this past session. Is that <br />true and did anything happen? <br />Thanks for your help. <br />Joel <br />8 <br />6/16/04 <br />