Homesteading a Property
Homestead is a Minnesota property tax classification for residential properties. Minnesota property tax rates have historically favored primary residences to encourage home ownership through reduced taxation. Homestead and non-homestead tax rates have been changed in recent years eliminating the tax rate advantage for homesteaded properties.
State lawmakers replaced the homestead market value credit with a the homestead market value exclusion. Visit the Hennepin County website to learn more about the details of this 2011 legislative change.
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