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-2- <br />The recommended abatement was to eliminate the 10% increase <br />in property valuos for 1980 and 1981 that were applied by <br />the Ramsey County Department of Property Taxation on a <br />County -wide basis and to modify thu 1982 assessed valuation <br />using a cost approach to the valuation. <br />3. The appraisal reports are then submitted <br />to t tile Abatemeopertynaxation <br />nt <br />Department of the Ramsey County Department o <br />which reviews the reasonableness of the abatements and <br />establishes new tax levels for the properties in question. <br />4. If the abatement is greater than $50,000 over a three year <br />period, the abatement is referred to the Minnesota Department <br />of Revenue to follow the requirements of Minnesota Statutes <br />which270.19 provides a <br />the abatementthr ugh anappealsnunits challenge <br />processestablishedby the <br />Statutes. <br />After thoroughly reviewing the information supplied to us and <br />considering the statements made during our meeting, Finance <br />Director Brager and I agree that the level of abatement was <br />reasonable based on the considerations stated during the meeting <br />and cited in an earlier portion of this memo, and that it would <br />not be advisable for the City of Mounds View to challenge the <br />abatement as there appear to be no reasonable grounds for such a <br />challenge. Based on initial estimates of the impaci-of the <br />abatement, it would appear that the City aL �•un would <br />experience a reduction in tax payments in an amount not to exceed <br />$600.00 resulting from this abatement. <br />Should Council agree with staff recommendation not to carry our <br />challenge on this abatement any further, it will be necessary that <br />Council authorize staff to send a letter to the State Department <br />of Revenue withdrawing our earlier objections. <br />DFP/pf. <br />4 <br />