MN HF40

Amends Minnesota Statutes section 273.124, subdivision 14, to establish conditions for agricultural property to qualify for class 2a homestead tax classification.

Establishes a new pathway for property of less than 10 acres to qualify as class 2a if the parcel is contiguous to agricultural land or public lands, the owner also owns a noncontiguous agricultural parcel of at least 20 acres within four townships or cities, and the agricultural use value equals at least 50 percent of the home and garage value.

Creates eligibility for agricultural property of at least 40 acres to qualify as homestead if the owner, spouse, or specified relatives actively farm the property, both the owner and farmer are Minnesota residents, neither claims another agricultural homestead in Minnesota, and they live within four townships or cities of the property.

Includes provisions allowing property owners who abandoned homesteads due to documented disasters (1997 floods, 1998 tornado, 2007 floods, 2009 floods) in specified counties to retain class 2a classification if property remains under same ownership and is used for agricultural purposes.

Requires initial full application to county assessors with subsequent abbreviated renewals if specified conditions remain unchanged, effective beginning with assessment year 2017.