Minnesota HF177 provides a refundable construction tax exemption for first-time homebuyers building new single-family homes.

Minnesota HF177 amends state statutes to provide a refundable construction tax exemption for first-time homebuyers constructing new single-family residential housing. The exemption applies to materials and supplies used in the construction, up to the first $460,000 of the construction cost. To qualify, the first-time homebuyer must own and occupy the housing. The tax on these purchases is imposed and collected as if the sale were taxable, then refunded. This exemption is effective for sales and purchases made after June 30, 2025, and expires on July 1, 2033.

Minnesota HF177 provides a refundable construction tax exemption for first-time homebuyers building new single-family homes.

Minnesota HF177 amends state statutes to provide a refundable construction tax exemption for first-time homebuyers constructing new single-family residential housing. The exemption applies to materials and supplies used in the construction, up to the first $460,000 of the construction cost. To qualify, the first-time homebuyer must own and occupy the housing. The tax on these purchases is imposed and collected as if the sale were taxable, then refunded. This exemption is effective for sales and purchases made after June 30, 2025, and expires on July 1, 2033.