Laserfiche WebLink
Anoka County City of LinoLakes <br />necessary to install the residence on its foundation and connect it to utilities at its present site. <br />In the case of an owner - occupied duplex or triplex, the improvement is eligible regardless of <br />which portion of the property was improved. <br />If the property lies in a jurisdiction which is subject to a building permit process, a building <br />permit must have been issued prior to commencement of the improvement. The <br />improvements <br />for a single project or in any one year must add at least $5,000 to the value of the property to <br />be eligible for exclusion under this subdivision. Only improvements to the structure which is <br />the residence of the qualifying homesteader or construction of or improvements to no more <br />than one two -car garage per residence qualify for the provisions of this subdivision. If an <br />improvement was begun between January 2, 1992, and January 2, 1993, any value added <br />from <br />that improvement for the January 1994 and subsequent assessments shall qualify for <br />exclusion <br />under this subdivision provided that a building permit was obtained for the improvement <br />between <br />January 2, 1992, and January 2, 1993. Whenever a building permit is issued for property <br />currently classified as homestead, the issuing jurisdiction shall notify the property owner of <br />the <br />possibility of valuation exclusion under this subdivision. The assessor shall require an <br />application, <br />including documentation of the age of the house from the owner, if unknown by the assessor. <br />The <br />application may be filed subsequent to the date of the building permit provided that the <br />application <br />must be filed within three years of the date the building permit was issued for the <br />improvement. If <br />the property lies in a jurisdiction which is not subject to a building permit process, the <br />application <br />must be filed within three years of the date the improvement was made. The assessor may <br />require <br />proof from the taxpayer of the date the improvement was made. Applications must be <br />received <br />prior to July 1 of any year in order to be effective for taxes payable in the following year. <br />No exclusion for an improvement may be granted by a local board of review or county board <br />of equalization, and no abatement of the taxes for qualifying improvements may be granted <br />by <br />the county board unless (1) a building permit was issued prior to the commencement of the <br />improvement if the jurisdiction requires a building permit, and (2) an application was <br />completed. <br />The assessor shall note the qualifying value of each improvement on the property's record, <br />and the sum of those amounts shall be subtracted from the value of the property in each year <br />for <br />ten years after the improvement has been made. After ten years the amount of the qualifying <br />value shall be added back as follows: <br />(1) 50 percent in the two subsequent assessment years if the qualifying value is equal to or <br />less than $10,000 market value; or <br />(2) 20 percent in the five subsequent assessment years if the qualifying value is greater <br />than $10,000 market value. <br />If an application is filed after the first assessment date at which an improvement could have <br />been subject to the valuation exclusion under this subdivision, the ten -year period during <br />which <br />29 <br />