Homestead Market Value Exclusion
Who qualifies
- Ownership
- Owner must own and occupy the property as their homestead and have obtained homestead classification from the county assessor.
- Residency
- Property must be owner-occupied and classified as a residential homestead. Partial homesteads (e.g., only one of multiple owners occupies) receive a proportionally reduced exclusion.
How much it saves
Worked example — a $300,000 home at Minnesota's median effective rate (~0.99%):
Your county's rate differs — use the calculator for a figure tuned to where you live.
How to apply
- Application required: Yes
- Deadline: The exclusion is applied automatically once a property has homestead classification. Homestead classification requires a one-time application filed with the county assessor (generally by December 31 of the assessment year for which homestead status is sought).
- Renewal: automatic — No annual re-application; the exclusion continues automatically as long as the property retains homestead classification. A new homestead application is required if ownership or occupancy changes.
Combining with other exemptions
A property receiving the disabled-veteran homestead exclusion (subd. 34) does not also receive this general homestead market value exclusion on the same value; the veteran exclusion is taken instead.
Amount cross-checked against a second official artifact: revisor.mn.gov/statutes/cite/273.13.
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.