Minnesota Statutes Metropolitan Area (Ch. 473-473J) § 473H.18. Transfer from Agricultural Property Tax Law treatment

When land which has been receiving the special agricultural valuation and tax deferment provided insection 273.111becomes an agricultural preserve pursuant tosections 473H.02to473H.17, the recapture of deferred tax and special assessments, as provided insection 273.111, subdivisions 9and11, shall not be made. Special assessments deferred undersection 273.111shall continue to be deferred for the duration of the preserve. For purposes of this section, “deferred special assessments” shall include the total amount of deferred special assessments undersection 273.111on the property, including any portion of the deferred special assessments which have not yet been levied at the time the property transfers to the agricultural preserves program under this chapter. All special assessments so deferred shall be payable within 90 days of the date of expiration unless other terms are mutually agreed upon by the authority and the owner. In the event of early termination of a preserve or a portion of it undersection 473H.09, all special assessments accruing to the terminated portion plus interest shall be payable within 90 days of the date of termination unless otherwise deferred or abated by executive order of the governor. In the event of a taking undersection 473H.15all special assessments accruing to the taken portion plus interest shall be payable within 90 days of the date the final certificate is filed with the court administrator of district court in accordance withsection 117.205.