Homestead is a classification of property that is occupied by an owner or relative of the owner, and is used as a primary place of residence. The State of Minnesota maintains the homestead program for residents who own and occupy their home or have a qualifying relative who occupies the home called the Homestead Market Value Exclusion. This program has two benefits for qualifying homeowners:
- It reduces the taxable market value of the property (for properties valued under $414,000 only), which in turn may lower taxes.
- It is one of the qualifying factors for homeowners to receive the State of Minnesota Property Tax Refund.
Special homestead programs
- Blind and disabled property owners
- Disabled veteran market value exclusion
- Multiple owner (fractional) homestead
|Manufactured home homestead applications due||May 29|
|Homestead abatement applications due||July 1|
|Last day to own and occupy to homestead for current assessment year||Dec 1|
|Last day to apply for residential and agricultural homestead||Dec 15|