MN SF1278

Increases the homestead market value exclusion threshold from $76,000 to $95,000 for properties receiving a 40 percent exclusion.

Raises the upper valuation limit for the graduated exclusion from $413,800 to $517,200.

Adjusts the base exclusion amount in the graduated phase from $30,400 to $38,000 for homesteads valued between $95,000 and $517,200.

Applies effective for assessment year 2024 and thereafter.