Class 4c(5)ii properties are manufactured home park cooperatives which are owned by a corporation or association organized as either a cooperative or cooperative association. The park as a whole may be eligible for a reduced classification rate if more than 50 percent of the lots in the park are occupied by shareholders in the cooperative.
Class 4c(5)iii property or class one manufactured home park is effective for assessment year 2018 for parks in which an owner or on-site attendant completes 12 hours of qualifying education courses every three years. Upon qualification, the manufactured home park will qualify for a reduced class rate.
Class 4c(5)i is a manufactured home park where the ownership is not classified as cooperative. A manufactured home park is the land on which two or more occupied manufactured homes are located, as well as any building or structure used by the park. It does not include the manufactured homes themselves.
Non-tillable real estate serving as a habitat of rolling or flat terrain where grasses predominate, typically containing a significant variety of annual, biennial, and perennial plants. Meadow is grass land from which hay could be cut, distinguished from tilled land where alfalfa has been sown.
The Metropolitan Agricultural Preserve Act encourages agricultural use retention on land located in close proximity to the Minneapolis-St. Paul Metropolitan Area. The program was established in 1980, and the valuation is based solely on the land’s agricultural use. Lands entered into the program are protected from substantial tax levy increases by limiting annual tax capacity rate increases to 105 percent of the statewide average local tax rate for townships. Agricultural lands are also protected from special assessments and eminent domain rights of local governments. Ag Preserve land is protected from repayment of any taxes or special assessments when terminating status under this law.
A class 5c(1) property is property that includes unmined iron ore and low-grade iron-bearing formations. The class rate for 5c(1) property is 2.00%. Class 5c(1) properties are subject to the state general levy.
A mini abstract is produced from PRISM Submission 1 submitted by the county assessor each year by April 1. It summarizes market values by city and type of property and provides a snapshot of what market values look like at the point valuation notices are sent to each property owner, essentially the values before appeal.
Another mini abstract is produced from PRISM Submission 2 submitted by the county assessor each year by September 1. It provides the same data as the Spring Mini but shows the snapshot after initial appeals and local, county, and state boards of equalization results.
In 2005, the Minnesota Legislature enacted a special program for properties damaged by mold. The program is a one-time valuation reduction for the estimated cost to cure the mold damage. This program is not designed to replace a value reduction made by the assessor due to the damage to the property. Rather, it is a supplement to that reduction.