MN HF3535

Creates a complete property tax exemption for class 1a and 1b homestead properties beginning with assessment year 2027

Eligibility requires the same owner to have owned and occupied the property as a homestead for at least 10 continuous years prior to applying, with no unpaid or delinquent property taxes or special assessments

Applicants must apply to the county assessor with documentation including Social Security number or taxpayer ID, current property tax statement, and initial year of homestead ownership

Exemption is removed in the next assessment year if the owner sells, transfers, or disposes of the property, or stops occupying it as a homestead

Property owners must notify the assessor within 30 days of any change in ownership or use as a permanent residence