What is homestead and what is needed to apply?

Homestead is a property tax reduction program, intended to keep taxes lower on owner-occupied homes, according to Minnesota Statute 273.124. In order to receive homestead exemption, you must present proof of ownership, complete a homestead application and provide the social security numbers of all owners. You must be listed as the owner on county tax records.

You must be owner and occupant by December 1st of the current year. The homestead application must be turned into the County Assessor's Office by December 15th to be eligible for the homestead classification for taxes payable in the following year.