The Minnesota State Legislature created Tax Abatement Financing as a locally controlled source of financing.
The County Board must find that Tax Abatement Financing is in the public interest because the tax abatement will meet at least one of the following criteria:
Increase or preserve tax base
Provide employment opportunities in a County
Provide or help acquire or construct public facilities
Help redevelop or renew blighted areas
Help provide access to services for a county's residents
Finance or provide public infrastructure
Stabilize the tax base through equalization of property tax revenues with respect to utility property, both real and personal
The county requires that cities approve the abatement prior to the county, to ensure that the county doesn't pre-empt city goals. The amount and term of the abatement is determined by the county board based on county policies and an application. For additional detail and a copy of the county's Tax Abatement Policy and application, please contact Dan Weber, Economic Development Specialist.