Homestead status can save you money on your property taxes. Individual taxpayer identification numbers now qualify property owners for homestead exclusion.There are two types of Homestead Credit Refund: A regular refund based on your income and property taxes. You may file for the Property Tax Refund on paper or electronically. The due date is August 15. The homestead credit refund is a state-paid refund that provides tax relief to homeowners whose property taxes are high relative to their incomes. Use Form 8898 to notify the IRS that you became or ceased to be a bona fide resident of a US territory in accordance with section 937(c). Minnesota allows a property tax credit to renters and homeowners who were residents or part-year residents of Minnesota during the tax year. Apply for homestead online. Use the Hennepin County tool to apply.