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.

By decreasing the taxable market value, net property taxes are also decreased. 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.

Homesteading Must Own a property. Occupy the property as your sole or primary residence. Be a Minnesota resident. Must be qualifying relative which include: parents, grandparents, siblings, children, grandchildren, aunts, uncles, nieces, and nephews of the owner or of the spouse of the owner.

There are two types of property tax refunds in Minnesota. One is income based and you may apply for this if your household income is less than $128,280; you owned and occupied a home in Minnesota; are filing a refund for 2021 or later; did not rent out your home; and did not use your home for business.

To qualify for the homestead classification you must: Occupy the property listed on the application as your primary residence; Be one of the owners of the property listed on the application, or a qualifying relative; Be a Minnesota resident.

You may qualify for homestead if you answer yes to any of these statements: You are a Minnesota resident. You own the property in your own name — not as a business entity. You live in the property year-round. You or your property co-owner have a social security number or an individual taxpayer identification number.

For homesteads valued at $95,000 or less, the exclusion is 40% of the market value, creating a maximum exclusion of $38,000. The exclusion is reduced as property values increase and phases out for homesteads valued at $517,200 or more.

What are the maximums? For refund claims filed in 2024, based on property taxes payable in 2024 and 2023 household income, the maximum refund is $3,310. Homeowners whose income exceeds $135,410 are not eligible for a refund.

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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 qualify for a property tax refund. A property tax refund is based on your household income and the property taxes paid. In person — Apply in person at a Hennepin County Service Center location or at St. Louis Park City Hall, 5005 Minnetonka Blvd. 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. For assistance with a homestead application, email Hennepin County homestead or call 612-348-3046.

Homestead Exemption With Tax Return In Hennepin

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