Qualified property owners may defer payment of special assessments until the deferral ends (see "When does a deferral end?" below). The assessment obligation is not reduced or canceled, only deferred. Payment will be due and payable in full at a future date. Interest is compounded annually on a deferred assessment.
Minnesota Statutes, Sections 435.193 to 435.195, allow municipalities do defer special assessments when homesteaded property is owned by a person who meets one of the following criteria:
Please note that the application must be filed within 60 days of the date the City Council approves the assessment project.
City staff review applications to determine if all requirements have been met. Staff will take all applications to the City Council for approval. Appeals can be made by filing with the District Court. as long as an objection is made prior to or at the special assessment public hearing. (Click Here for Appeal Information)
A deferral will automatically terminate upon any of the following:
The property owner may also decide to terminate the deferral. Once a deferral is terminated, all principal and interest amounts are immediately due.