Special assessments are a percentage of the cost of a city project that is divided among each property owner affected by the project, based on property frontage and benefit from the project.
Special assessments may also be used to recove the cost of service charges including, but not limited to:
PREPAYMENT. The right to partially prepay the assessment is available according to city ordinance. If you decide not to prepay the assessment, interest rate and installment information is available upon request.
DEFERMENT. Under Minnesota Statute, Sections 435.193 to 435.195, the Council may, in its discretion, defer the payment of special assessments for any homestead property owned by a person 65 years of age or older for whom it would be a hardship to make the payments. When deferment of the special assessment has been granted and is terminated for any reason provided in that law, all amounts accumulated, plus applicable interest, become due. Any assessed property owner meeting the requirements of this law and the ordinance adopted under it may, within 30 days of the confirmation of the assessment, apply to the Finance Director for the prescribed form for such deferral of payment of this special assessment on his/her property. To learn more, please contact Suzy Warren at 651-730-2714.