Minnesota SF4946 prohibits increases in property value for homesteads owned by persons age 65 or older.

Minnesota SF4946 amends state statutes to prohibit an increase in the estimated market value for class 1 property owned and occupied as a homestead by a person who is 65 years of age or older by the assessment date. The bill specifies that the valuation freeze applies to the property's homestead market value exclusion and any reduction due to section 273.11, subdivision 24. The provisions are effective beginning with assessment year 2026.

Minnesota SF4946 prohibits increases in property value for homesteads owned by persons age 65 or older.

Minnesota SF4946 amends state statutes to prohibit an increase in the estimated market value for class 1 property owned and occupied as a homestead by a person who is 65 years of age or older by the assessment date. The bill specifies that the valuation freeze applies to the property's homestead market value exclusion and any reduction due to section 273.11, subdivision 24. The provisions are effective beginning with assessment year 2026.