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Anoka County City of Lino Lakes
<br />2002 assessment before any reassessment due to flood damage, the assessor shall note the amount
<br />of the increase on the property's record, and that amount shall be subtracted from the value of the
<br />property in each year for five years after the improvement has been made. In each of the next five
<br />subsequent assessment years, an amount equal to 20 percent of the value excluded in the fifth year
<br />for that improvement shall be added back. The maximum amount of value that can be excluded for all
<br />improvements to any property under this subdivision is $50,000.The assessor shall require an
<br />application. Applications must be received by December 31, 2002, or December 31, 2003, in order to
<br />be effective for taxes payable in the following year. For purposes of this subdivision, "population" has
<br />the meaning given in section 477A.011, subdivision 3 .
<br /> Subd. 21. Valuation reduction for homestead property damaged by mold. (a) The owner of
<br />homestead property may apply in writing to the assessor for a reduction in the market value of the
<br />property that has been damaged by mold. The notification must include the estimated cost to cure the
<br />mold condition provided by a licensed contractor. The estimated cost must be at least $20,000. Upon
<br />completion of the work, the owner must file an application on a form prescribed by the commissioner
<br />of revenue, accompanied by a copy of the contractor's estimate.(b) If the conditions in paragraph (a)
<br />are met, the county board must grant a reduction in the market value of the homestead dwelling equal
<br />to the estimated cost to cure the mold condition. If a property owner applies for a reduction under this
<br />subdivision between January 1 and June 30 of any year, the reduction applies for taxes payable in the
<br />following year. If a property owner applies for a reduction under this subdivision between July 1 and
<br />December 31 of any year, the reduction applies for taxes payable in the second following year.(c) A
<br />denial of a reduction under this section by the county board may be appealed to the tax court. If the
<br />county board takes no action on the application within 90 days after its receipt, it is considered an
<br />approval.(d) For purposes of subdivision 1a, in the assessment year following the assessment year
<br />when a valuation reduction has occurred under this section, any market value added by the assessor
<br />to the property resulting from curing the mold condition must be considered an increase in value due
<br />to new construction. Subd. 22. Lead hazard market value reduction. Owners of property classified
<br />as class 1a, 1b, 1c, 2a, 4b, 4bb, or 4d under section 273.13 may apply for a lead hazard valuation
<br />reduction, provided that the property is located in a city which has authorized valuation reductions
<br />under this subdivision. A city that authorizes reductions under this subdivision must establish
<br />guidelines for qualifying lead hazard reduction projects and must designate an agency within the city
<br />to issue certificates of completion of qualifying projects. For purposes of this subdivision, "lead hazard
<br />reduction" has the same meaning as in section 144.9501, subdivision 17.The property owner must
<br />obtain a certificate from the agency stating (1) that the project has been completed and (2) the total
<br />cost incurred by the owner, which must be at least $3,000. Only projects originating after July 1, 2005,
<br />and completed before July 1, 2010, qualify for a reduction under this subdivision. The property owner
<br />shall apply for the valuation reduction to the assessor on a form prescribed by the assessor
<br />accompanied by a copy of the certificate of completion from the agency. A qualifying property is
<br />eligible for a one-year valuation reduction equal to the actual cost incurred, to a maximum of $20,000.
<br />If a property owner applies to the assessor for the valuation reduction under this subdivision between
<br />January 1 and June 30 of any year, the reduction applies for taxes payable in the following year. If a
<br />property owner applies to the assessor for the valuation reduction under this subdivision between July
<br />1 and December 31, the reduction applies for taxes payable in the second following year. For
<br />purposes of subdivision 1a, any additional market value resulting from the lead hazard removal must
<br />be considered an increase in value due to new construction.
<br /> Subd. 23. First tier valuation limit; agricultural homestead property. (a) Beginning with
<br />assessment year 2006, the commissioner of revenue shall annually certify the first tier limit for
<br />agricultural homestead property as the product of (i) $600,000, and (ii) the ratio of the statewide
<br />average taxable market value of agricultural property per acre of deeded farm land in the preceding
<br />assessment year to the statewide average taxable market value of agricultural property per acre of
<br />deeded farm land for assessment year 2004. The limit shall be rounded to the nearest $10,000.(b) For
<br />the purposes of this subdivision, "agricultural property" means all class 2 property under section
<br />273.13, subdivision 23, except for (1) timberland, (2) a landing area or public access area of a
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