Minnesota HF4802 prohibits increases in property value for homesteads owned by persons age 65 or older.

Minnesota HF4802 amends state statutes to prohibit an increase in the estimated market value for properties owned and occupied as a homestead by individuals aged 65 or older. This valuation freeze applies to both the house and surrounding one acre of land. The bill also mandates that county assessors inform the public annually about the availability of this valuation freeze. The provisions of this bill are effective beginning with assessment year 2026.

Minnesota HF4802 prohibits increases in property value for homesteads owned by persons age 65 or older.

Minnesota HF4802 amends state statutes to prohibit an increase in the estimated market value for properties owned and occupied as a homestead by individuals aged 65 or older. This valuation freeze applies to both the house and surrounding one acre of land. The bill also mandates that county assessors inform the public annually about the availability of this valuation freeze. The provisions of this bill are effective beginning with assessment year 2026.