05-01-2017 Council Packet - Laserfiche WebLink

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Anoka County City of Lino Lakes 41 Finance Agency under section 273.128, subdivision 3. If only a portion of the units in the building qualify as low-income rental housing units as certified under section 273.128, subdivision 3, only the proportion of qualifying units to the total number of units in the building qualify for class 4d. The remaining portion of the building shall be classified by the assessor based upon its use. Class 4d also includes the same proportion of land as the qualifying low-income rental housing units are to the total units in the building. For all properties qualifying as class 4d, the market value determined by the assessor must be based on the normal approach to value using normal unrestricted rents. Class 4d property has a class rate of 0.75 percent. Subd. 25a.Elderly assisted living facility property. "Elderly assisted living facility property" means residential real estate containing more than one unit held for use by the tenants or lessees as a residence for periods of 30 days or more, along with community rooms, lounges, activity rooms, and related facilities, designed to meet the housing, health, and financial security needs of the elderly. The real estate may be owned by an individual, partnership, limited partnership, for-profit corporation or nonprofit corporation exempt from federal income taxation under United States Code, title 26, section 501(c)(3) or related sections. An admission or initiation fee may be required of tenants. Monthly charges may include charges for the residential unit, meals, housekeeping, utilities, social programs, a health care alert system, or any combination of them. On-site health care may be provided by in-house staff or an outside health care provider. The assessor shall classify elderly assisted living facility property, depending upon the property's ownership, occupancy, and use. The applicable class rates shall apply based on its classification, if taxable. Subd. 26. [Repealed, 1987 c 268 art 6 s 53] Subd. 27. [Repealed, 1987 c 268 art 6 s 53] Subd. 28. [Repealed, 1987 c 268 art 6 s 53] Subd. 29. [Repealed, 1987 c 268 art 6 s 53] Subd. 30. [Repealed, 1988 c 719 art 5 s 81] Subd. 31.Class 5. Class 5 property includes: (1) unmined iron ore and low-grade iron-bearing formations as defined in section 273.14; and (2) all other property not otherwise classified. Class 5 property has a class rate of 2.0 percent of market value. Subd. 32. [Repealed, 1998 c 389 art 2 s 21] Subd. 33.Classification of unimproved property. (a) All real property that is not improved with a structure must be classified according to its current use. (b) Except as provided in subdivision 23, paragraph (c) or (d), real property that is not improved with a structure and for which there is no identifiable current use must be classified according to its highest and best use permitted under the local zoning ordinance. If the ordinance permits more than one use, the land must be classified according to the highest and best use permitted under the ordinance. If no such ordinance exists, the assessor shall consider the most likely potential use of the unimproved land based upon the use made of surrounding land or land in proximity to the unimproved land. Subd. 34. Homestead of disabled veteran. (a) All or a portion of the market value of property owned by a veteran or by the veteran and the veteran's spouse qualifying for homestead classification under subdivision 22 or 23 is excluded in determining the property's taxable market value if it serves as the homestead of a military veteran, as defined in section 197.447, who has a service-connected disability of 70 percent or more. To qualify for exclusion under this subdivision, the veteran must have been honorably discharged from the United States armed forces, as indicated by United States Government Form DD214 or other official military discharge papers, and must be certified by the United States Veterans A dministration as having a service-connected disability. (b)(1) For a disability rating of 70 percent or more, $150,000 of market value is excluded, except as provided in clause (2);