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YEAR & <br />STATUTE <br />REFERENCE <br />CITY OF LINO LAKES, MINNESOTA <br />STATE LEGISLATIVE ACTION <br />APPENDIX A <br />1991 <br />MS 273.13 <br />Subd. 22 <br />#19 Approved adjustments to residential homestead property (class la). <br />Adjusted rates are as follows: <br />Payable Payable Payable <br />1991 1992 1993 <br />Rate Rate Rate <br />First Tier of Market Value <br />Up to $68,000 1.00% <br />Up to $72,000 1.00% 1.00% <br />Second Tier of Market Value <br />$68,001 to $110,000 2.00% <br />$72,001 to $115,000 2.00% <br />over $72,000 2.00% <br />Third Tier of Market Value <br />over $110,000 3.00% <br />over 5115,000 2.50% <br />1991 <br />MS 270.12 <br />Subd. 2 <br />#18 Establish methodology used in preparing assessment /sales ratio studies <br />requiring them to be consistent with the most recent Standard on <br />Assessment/Sales Ratio Studies published by the Assessment Standards <br />Committee of the International Association of Assessment Officers. <br />1991 <br />MS <br />477A.0132 <br />Subd. 1 & 2 <br />#17 1991 LGA initially frozen at 1990 levels, then in subsequent actions, aid <br />was cut. The 1991 reduction equals 2.052% of the City's Revenue Base. This <br />aid cut will first reduce LGA. If the City's LGA is insufficient, then the cut will <br />affect Equalization Aid, HACA and Disparity Reduction Aid, in that order. Aid <br />cut not replaced by levy authority. <br />1991 BF 47 <br />#16 State Aid road allotments were reduced to Cities. <br />1990 <br />Ch. 604 <br />Art. 3 <br />Section 47 <br />#15 Levy limits for Cities repealed starting with collectible 1993 levy. <br />1990 <br />MS 273.1399 <br />Subd. 5 <br />#14 Approved potential LGA and HACA cuts related to tax increment districts <br />formed after April 30, 1990. <br />PREPARED BY TAUTGES, REDPATH & CO., LID. <br />PAGE 6 OF 9 <br />