DEPARTMENT: Property Taxation and Records
FILE TYPE: Consent Action
TITLE
title
Approval Of Renewal Of Policy Regarding Installment Plan For Repurchases Of Non-Homestead Tax-Forfeited Property
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PURPOSE/ACTION REQUESTED
Approve renewal of the five-year installment repurchase plan for non-homestead property for one year beginning the first business day of 2024.
SUMMARY
Minn. Stat. § 282.241 and Minn. Stat. § 282.261, subd. 1, provide that a person repurchasing a tax-forfeited parcel must pay at least one-tenth of the purchase price and shall pay the balance in nine equal annual installments.
Alternatively, Minn. Stat. § 282.261, subd. 3, provides that a county board may annually resolve to require that for non-homestead property, the minimum down payment must be 20 percent of the purchase price with the balance payable in four equal annual installments. The resolution shall remain in force for one year after approval and shall be applied uniformly to all non-homestead property in the County. In previous years, the Dakota County Board of Commissioners has chosen to adopt the alternative, five-year repurchase plan for non-homestead property.
RECOMMENDATION
recommendation
Dakota County staff recommends that the Dakota County Board of Commissioners adopt the alternative five-year repurchase plan for non-homestead property.
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EXPLANATION OF FISCAL/FTE IMPACTS
None.
☒ None ☐ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
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WHEREAS, Minn. Stats. § 282.241 and 282.261, require a person repurchasing a tax-forfeit parcel pay at least one-tenth of the purchase price and shall pay the balance in nine equal installments; and
WHEREAS, Minn. Stat. § 282.261, subd. 3, provides that a county board may annually resolve to require that for non-homesteaded property, the minimum down payment must be 20 percent of the purchase price with the balance paid in four equal annual installments.
NOW, THEREFORE, BE IT RESOLVED, That the Dakota County Board of Commissioners hereby resolves that the five-year installment repurchase plan, authorized in Minn. Stat. § 282.261, subd. 3, shall apply to all non-homestead, tax-forfeited property in Dakota County for one year beginning the first business day of 2024.
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PREVIOUS BOARD ACTION
20-602; 12/01/20
21-569; 11/30/21
22-506; 11/15/22
ATTACHMENTS
None.
BOARD GOALS
☒ A Great Place to Live ☐ A Healthy Environment
☐ A Successful Place for Business and Jobs ☐ Excellence in Public Service
PUBLIC ENGAGEMENT LEVEL
☒ Inform and Listen ☐ Discuss ☐ Involve ☐ N/A
CONTACT
Department Head: Amy Koethe
Author: Airabella Lepinski