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  • You Must Own And Occupy The Property On Either January 2 Or December 1, And The Application Must Be

Get You Must Own And Occupy The Property On Either January 2 Or December 1, And The Application Must Be

Application for Owner Occupied Homestead Classification Please read the back of this form before completing. You must own and occupy the property on either January 2 or December 1, and the application.

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How to use or fill out the You Must Own And Occupy The Property On Either January 2 Or December 1, And The Application Must Be online

This guide provides clear instructions for completing the Application for Owner Occupied Homestead Classification. Users will learn how to fill out the application accurately to ensure eligibility for homestead classification.

Follow the steps to successfully complete your application

  1. Click ‘Get Form’ button to obtain the form, opening it in your preferred digital editor.
  2. Begin by completing Section 1 – Property Information. Provide the property address, indicate if it is also your mailing address, and include the city, state, county, and the parcel ID or legal description of the property.
  3. In Section 2 – Previous Residence, fill in your previous address, city, state, zip code, county, and the date you vacated the property. Indicate whether the previous property was classified as homestead.
  4. Move on to Section 3 – Applicant(s) Claiming Homestead on Property. Here, each applicant must print their name, Social Security number, and answer questions about ownership and marital status. Ensure that everyone who occupies the property signs and dates the application.
  5. In Section 4 – Additional Information, answer the questions regarding ownership claims and any relatives listed on the deed.
  6. Once all sections are completed, review the information for accuracy. Make sure all required signatures and Social Security numbers are included. If necessary, use an extra sheet for additional occupants.
  7. After finalizing your application, save the changes and consider downloading a copy for your records. You can also print or share the completed form as needed.

Complete your application online today to ensure your eligibility for homestead classification.

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A homestead protects some of the equity in your home. If your home is worth more money than you owe on it, you have equity. For example, if your home is worth $350,000 and you owe $300,000, you have $50,000 in equity. A homestead can protect the $50,000. There are two types of homesteads, automatic and declared.

The home must have been the principal place of residence of the owner on the lien date, January 1st. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located.

Under current law, 1.18 million homesteads qualify for the homestead market value exclusion for taxes payable 2023. The total exclusion statewide is $16.63 billion. Under the proposal, all homesteads over $76,000 and less than $413,800 of market value would receive an increased homestead market value exclusion.

Minnesota statute allows homeowners to claim up to $390,000 in property value, or $975,000 if agricultural, as a "homestead." State law limits this exemption to 160 acres, which in practice may apply to farms, but has removed what was once a half-acre limit on property within city limits.

To qualify for a homestead, you must: Own a property. Occupy the property as your sole or primary residence. Be a Minnesota resident.

Homestead status can save you money on your property taxes. You may qualify for homestead status if: You or one of your relatives live in the home. You own the home in your name and not as a business entity. You have a social security number.

The Homestead Act of 1862 allowed settlers to claim land for free as long as they lived on it for five years and made improvements such as building a house. The act brought 75,000 people to Minnesota in its first three years, quickly settling the prairie and displacing the Dakota living there.

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Get You Must Own And Occupy The Property On Either January 2 Or December 1, And The Application Must Be
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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232