What Is Homestead & Who Qualifies?
A homestead market value exclusion is a statutory reduction to the taxable market value for certain property that is occupied as a person's primary place of residence. In order to qualify for homestead market value exclusion you must meet all of the following requirements:
- You must be a Minnesota resident
- You must be one of the owners of the property or be a qualifying relative of one of the owners
- You must occupy the property as your primary place of residence, token or temporary occupancy does not apply
Requirements to Be a Minnesota Resident
Your county assessor will determine whether you are a Minnesota resident for purpose of the homestead classification. You may be considered to be a Minnesota resident if all or some of the following apply to you:
- You are employed by a business located in Minnesota
- You are not a resident of any other state or country
- You are registered to vote in Minnesota
- You file a Minnesota income tax return
- You have a valid Minnesota driver's license
- You list a property in Minnesota as your permanent mailing address
Homestead Applications