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2010.10.18 RESO 2010-0053
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2010.10.18 RESO 2010-0053
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10/26/2017 2:04:42 PM
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City Council
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Resolutions
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11. Senior Citizen Deferments <br />As allowed by the Minnesota Statute, the City has a special assessment deferral policy for <br />low-income senior citizens and disabled persons as follows: <br />A. Special Assessment Deferral <br />1. Pursuant to Minn. Stat. 435.193 through 435.195 senior citizens may defer special <br />assessments levied against homestead property owned by the applicant if the criteria <br />set forth below are met by the applicant. <br />B. Eli ibili <br />1. Any person may request deferment of special assessments levied against real property <br />once they are 65 years of age or older, whether or not they turn 65 before an <br />assessment is levied or during the assessment repayment period. A deferment may be <br />requested for assessments related to a public improvement if the following conditions <br />are met: <br />a. Ownership: The applicant must be the fee simple owner of the property or must <br />be a contract vendee for fee simple ownership. <br />b. Homestead: The property must be the applicant's principal place of domicile and <br />classified on the County's real-estate tax rolls as the applicant's homestead. <br />C. Interest on Deferred Assessment <br />1. All deferred special assessments shall be subject to and charged simple interest at the <br />prevailing rate applicable at the time the assessment was originally levied. Said <br />interest shall be payable upon termination of the deferral status. <br />D. Termination of Deferral Status <br />1. Special assessment payments deferred pursuant to the eligibility requirements set <br />forth by this resolution shall become payable effective upon the occurrence of one of <br />the following events: <br />a. Sale of Property: The subject property is sold, transferred, subdivided, or in any <br />way conveyed to another by the fee owner qualified for deferral status. <br />b. Death of Owner: The death of the fee owner qualified for deferral status unless a <br />surviving spouse is eligible for the deferral benefit provided hereunder. <br />c. Non -homestead Property: The subject property loses its homestead status for any <br />reason. <br />Page 7 <br />
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