(A) Reassessment, tax forfeited land. Special assessments canceled because of tax forfeiture of land are to be reassessed in accordance with M.S. § 429.071(4), and as described below.
(1) The amount to be reassessed to a parcel or tract of land shall be equal to that parcel's or tract's proportional share of the original assessment less all principal amounts received by the city for said assessment prior to cancellation and less all proceeds apportioned to the city to discharge said assessment pursuant to M.S. § 282.08.
(2) Upon return of tax forfeited land to private ownership, reassessment procedures shall be initiated as to any and all developed parcels or tracts of land therein. Undeveloped land returned to private ownership shall not be immediately reassessed.
(3) If development later occurs on tax forfeited land returned to private ownership, reassessment procedures shall then be initiated as to such parcels or tracts of land therein.
(B) Development defined. For the purposes of this division, development shall be deemed to have occurred as defined in § 94.23(D).
(Ord. 754, passed 4-23-90)