Minnesota HF436 establishes a homestead market value exclusion for property owned by persons 65 years or older and retired.

Minnesota HF436 amends state statutes to establish a homestead market value exclusion for property owned by persons 65 years or older and retired. To qualify, the property must be classified as 1a or 1b under subdivision 22 or be the portion of an agricultural homestead. In the case of a married couple, at least one spouse must be 65 years or older and the other spouse must be at least 62 years of age. The property may be titled in the name of one spouse or both spouses or titled in another way that permits the owner to occupy it as a homestead.

Minnesota HF436 establishes a homestead market value exclusion for property owned by persons 65 years or older and retired.

Minnesota HF436 amends state statutes to establish a homestead market value exclusion for property owned by persons 65 years or older and retired. To qualify, the property must be classified as 1a or 1b under subdivision 22 or be the portion of an agricultural homestead. In the case of a married couple, at least one spouse must be 65 years or older and the other spouse must be at least 62 years of age. The property may be titled in the name of one spouse or both spouses or titled in another way that permits the owner to occupy it as a homestead.