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Parcel ID: Legal Description: HS OK PAY Application for the Residential Relative Homestead Classification Please read the back of this form before completing. Each related occupant and owner of the.

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Residential real estate that is occupied and used for the purposes of a homestead by a qualifying relative** of the owner is a relative homestead.

To qualify for homestead: You must own the property, or be a relative or in-law of the owner (son, daughter, parent, grandchild, grandparent, brother, sister, aunt, uncle, niece or nephew). You or your relative must occupy the property as the primary place of residence. You must be a Minnesota resident.

Under current law, 1.18 million homesteads qualify for the homestead market value exclusion for taxes payable 2023. The total exclusion statewide is $16.63 billion. Under the proposal, all homesteads over $76,000 and less than $413,800 of market value would receive an increased homestead market value exclusion.

For homesteads valued at $76,000 or less, the exclusion is 40% of the market value, creating a maximum exclusion of $30,400. The exclusion is reduced as property values increase, and phases out for homesteads valued at $413,800 or more.

Per Minnesota state statute, you can only homestead one residential parcel in the State of MN.

To receive relative homestead classification, the property must be the residence of any of the following: child, stepchild, daughter-in-law, son-in-law, parent, stepparent, parent-in-law, grandchild, grandparent, brother, brother-in-law, sister, sister-in-law, aunt, uncle, husband or wife.

The homestead market value exclusion provides a tax reduction to all homesteads valued below $413,800 by shifting a portion of the tax burden that would otherwise fall on the homestead to other types of property.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232