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Once the property is granted the homestead classification, it will not be necessary for you to reapply for the classification. However, the County Assessor may at any time require you to provide an additional application or such proof, as they deem necessary to verify that you continue to meet the requirements of the homestead classification. Relatives of owners claiming homestead classification will be sent a questionnaire every year to confirm they are still living on the property, which they need to complete, sign and return in order to retain this classification. If this is not returned, the homestead classification will be removed for that assessment year.
Once your homestead application has been received, it will be reviewed. You will be sent a letter from the County Assessor with the result of our findings and the year of assessment and tax this homestead classification would affect.
Most trusts can qualify for homestead. A Certificate of Trust must be submitted and approved by the County Assessor, or the complete signed Trust must be provided for the Assessor’s review. Call the Assessor’s Office, at 218-547-7298 if you have any questions.
To receive homestead you must comply with all the following requirements:
If at any time the property is sold, or you change your primary residence, state law requires that you notify the County Assessor within 30 days. If you fail to notify the County Assessor within the 30 days, you may be required to pay the tax, which is due on the property based on the correct property class plus a penalty of the same amount.
A homestead classification may qualify for a market value reduction (a tax bill based on a reduced taxable value). A property that is valued at $76,000 will receive the maximum market value exclusion, this exclusion is reduced until a property value exceeds about $412,000, at which point there is no exclusion. To qualify for homestead classification and market value exclusion the property must be occupied as a person’s primary and principal place of residence for all legal purposes. In order to qualify for homestead credit, you must meet all of the following requirements:
A property owner who obtains or attempts to obtain homestead classification for a property other than his or her primary place of residence or the primary place of residence of his or her qualifying relative is under state law subject to a fine of up to $3,000 and/or up-to one year of imprisonment (Minnesota Statute 609.41). In addition, the property owner will be required to pay all tax, which is due on the property based on the correct property class plus a penalty equal to the same amount (Minnesota Statute 273.124, Subdivision. 13).
Even though social security numbers are private information, under Minnesota Statute 273.123, Subdivision. 13, they must be provided before a homestead can be granted. Social Security numbers will be used with the help of the Department of Revenue to determine if owners or relatives of owners have applied for more than one homestead.