2005 Minnesota Statutes - 298.37 — Assessment at local tax rate.

     298.37 Assessment at local tax rate. 


    In any year in which at least 1,000 tons of iron ore 
 concentrate is not produced from any 40-acre tract or 
 governmental lot containing semitaconite, a tax may be assessed 
 upon the semitaconite therein at the local tax rate prevailing 
 in the taxing district and spread against the net tax capacity 
 of the semitaconite; such net tax capacity shall not exceed the 
 greater of:  (a) the net tax capacity specifically assigned to 
 the semitaconite material in said land in the assessment for the 
 year 1958, or, (b) an amount sufficient to yield a tax of $1 per 
 acre less the amount of any tax assessed against such land under 
 the authority of section 298.26. 


    HIST: Ex1959 c 81 s 4; 1988 c 719 art 5 s 84; 1989 c 329 art 
 13 s 20; 1Sp1989 c 1 art 2 s 11