Agenda - Council - 02/26/2013 - Laserfiche WebLink

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AIA ANOKA COUNTY February 7, 2013 COUNTY OF ANOKA Patrick J. Brama Management Analyst City of Ramsey 7550 Sunwood Drive NW Ramsey, MN 55303 Dear Pat, DIVISION OF PROPERTY RECORDS AND TAXATION GOVERNMENT CENTER • 2100 3RD AVENUE • ANOKA, MN 55303 FAX (763) 323-5421 www.AnokaCounty.us/prop-records-tax • Property Assessment • Property Records and Public Service • Property Tax -Accounting and Research Per our conversation of this PM, we will be creating a Personal Property Account for taxes payable in 2013 for parcel 29-32-25-14-0014. A value of $40,000 will be placed on this lease with an estimated tax of $1232.00; computed using rates for vacancy, expense and capitalization comparable to other leased properties in Anoka County. Minnesota Statutes 272.01 Subd. 2 require this office to place a taxable value on this parcel; Subd. 2. Exempt property used by private entity for profit. (a) When any real or personal property which is exempt from ad valorem taxes, and taxes in lieu thereof, is leased, loaned, or otherwise made available and used by a private individual, association, or corporation in connection with a business conducted for profit, there shall be imposed a tax, for the privilege of so using or possessing such real or personal property, in the same amount and to the same extent as though the lessee or user was the owner of such property. Since the lease is dated June of 2011, the personal property tax will become part of the 2013 real estate taxes due. First half is due May 15 with the second half due October 15th I did look into the possibility of sending the tax statement to the City directly and the statutes require us to send the statement to the lessee, however, we can send the City a copy of the tax statement automatically or you can call us for a copy once tax statement s are out. Just let us know what you'd prefer. Affirmative Action / Equal Opportunity Employer