Homestead Classifications
What is a homestead?
A homestead is a classification that may be applied to a property that is
occupied as a person’s primary place of residence What is
a homestead credit?
The credit is a statutory reduction to the general property tax for
property with a qualifying homestead classification. The credit decreases as
the property’s market value increases. Maximum credit is $304 for a $79,000
property and reduces to $0 for a property value of $413,773. Not all
properties qualify for a full 100 percent homestead classification. Such
properties are termed fractional homesteads. Conversely, there might be
additional credits to a property with additional homestead classifications
such as blind, disabled or paraplegic.
Who qualifies for a homestead classification?
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You must be the owner or a qualifying relative* of at least one of the
owners.
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You must occupy the property as your primary residence
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You must be a Minnesota resident. In the case of a qualified relative*
the owner need not be a Minnesota resident.
(*To qualify for a relative homestead you must be the
owner’s son, son-in-law, daughter, daughter-in-law, stepchild, parent,
parent-in-law, stepparent, grandchild, grandparent, grandparent-in-law,
brother, brother-in-law, sister, sister-in-law, aunt or uncle.)
How do I apply for a homestead classification?
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Present or attach copy of the deed and Certificate of Real Estate Value
(CRV) provided at closing, usually labeled “Homestead Filing
Instructions.”
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Provide Social Security numbers of all owners, spouses not on deeds
and/or qualified relatives who occupy the property.
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Apply in person at the City of Edina Assessing office with all
documents.
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If you cannot apply in person, download a copy of the application form,
attach all required items and fax or mail to the City of Edina Assessing
Office.
How often do I apply?
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Owner occupant with the return of the Homestead Application card; one
time.
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Qualifying relative homesteads and fractional homesteads are an
exception and require updating each year. The Assessing Office mails a
card for signature that needs to be returned to continue the property’s
classification.
How many Homesteads may I claim?
Why must I provide my Social Security number?
Even though Social Security numbers are private
information, under Minnesota state law, they must be provided before a
homestead will be granted. Social Security numbers will be used to determine
if owners or relatives of owners have applied for more than one homestead in
the state.
When should I apply for a homestead?
Ideally, as soon as you occupy the property so you
don’t forget!
To qualify for a full-year homestead classification,
homeowners must own and occupy their home on for before Jan. 2 each year.
The filing deadline is Jan. 15.
Property not qualifying for homestead on Jan. 2, but
purchased and owner-occupied on or before December 1st may qualify for a
mid-year homestead classification. The filing deadline is Dec. 15 each year.
What will happen if I fail to comply with the
homestead laws or file a false homestead?
If the assessor is not notified within 30 days that the property has
been sold or is no longer being used as a primary place of residence, the
homestead will be removed and penalties will be imposed.
Is there anything else I should know?
Every homestead is unique. Some homesteads involve property held under a
trust agreement. Other property is purchased with lender requirements that
may affect the homestead classification. You are encouraged to contact the
Edina Assessor’s Office with any questions you may have or refer to
Minnesota Statute Chapter 273.124.
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