What is Homestead?
A homestead market value exclusion is a statutory reduction to the taxable market value for a certain property that is occupied as a person's primary place of residence.
To receive homestead classification, you must own and occupy the property as your primary residence on January 2. If you are already receiving homestead and remain in the same residence, you do not need to reapply unless there is a change in the title of the property. If you move out of a homestead, you are required by law to notify the County Assessor at 651-385-3040 within 30 days, or you may be subject to penalties.
Applying for Homestead
Homestead applications are available at the Goodhue County Assessor's Office and are due by December 15 of the year of assessment, but occupancy and ownership must be in place by December 1 of the assessment year.
It is the owner's responsibility to ensure a property that is eligible for homestead is receiving it.
You may be eligible for homestead if:
- You purchase a new home. The County mails homestead applications to new owners when we received the property transfer. If substantially more than 4-6 weeks passes after you close on the home and the deed is recorded, you may wish to contact us.
- You move into non-homestead property. You may homestead it by purchasing and moving in prior to December 1. Contact the Assessor's Office as soon as possible to ensure that taxes payable the following year are calculated correctly.
- A qualifying relative of the owner occupies the residential or residential portion of the agricultural property. This is called Relative Homestead. An application my be signed by the qualifying relative and the owner annually.
- A qualifying relative of the owner occupies an agricultural property. This is called Agricultural Relative Homestead and generally occurs when the owner has moved off the farm. The qualifying relative occupies the farm residence and can also homestead the farmland. The owner must be a Minnesota resident and receive no other agricultural homestead,
- A property owner does not live on their farm but actively farms their land. This is called Special Agricultural Homestead. There are numerous requirements for this program, please see the Fact Sheets below or contact the Assessor's Office for more information.