Get Addendum To Application For Homestead Classification Relative ... - Co Stearns Mn

A class 1a residential homestead is a property owned by a Minnesota resident and is occupied by that personas their primary residence. A property occupied by a qualifying relative of the owner who meets homestead requirements may also be eligible for homestead classification.

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.

To receive relative homestead classification, the property must be the residence of any of the following: child, stepchild, daughter-in-law, son-in-law, parent, stepparent, parent-in-law, grandchild, grandparent, brother, brother-in-law, sister, sister-in-law, aunt, uncle, husband or wife.

Applying for Homestead To apply or for homestead classification visit the Land Services Portal. For City of St. Cloud properties, please contact the City Assessor's office at 320-255-7203.

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.

A homestead classification qualifies your property for: A classification rate of 1% on up to $500,000 in taxable market value. A market value exclusion, which may reduce the property's taxable market value.

Classifications — such as homestead, rural vacant land, commercial, and agricultural — describe a property's primary use and impact the amount of property tax paid. The Minnesota State Legislature creates and defines class rates, and a property is taxed at the rate corresponding to its class.

In order to qualify for homestead classification, you must: be an owner of the property. occupy the property as your primary residence. be a Minnesota resident.