What is homestead?

The homestead classification applies to properties occupied as primary residences by their owners. 

Classification as a homestead may qualify the property for: 

  • A classification rate of 1.00% on up to $500,000 in taxable market value
  • A market value exclusion, which may reduce the property’s taxable market value
  • Other programs such as the disabled veterans’ market value exclusion, senior citizens’ deferral, and property tax refunds

Show All Answers

1. What is homestead?
2. What is relative homestead?
3. What is a fractional homestead?
4. What qualifies me for homestead?
5. Can I have more than one homestead?
6. Can I get full homestead with a relative as a co-owner?
7. When do I have to apply by?
8. Do I need to do this every year?
9. Where can I find my property ID?
10. Do I need to enter the "R" or hyphens in my property ID?
11. Do I need to include my spouse? Children?
12. Do I need to upload/attach anything to the homestead application?
13. Why won't the application let me move to the next screen?
14. Why am I getting a letter from the Minnesota Department of Revenue?