Homestead information

Your home can be a homestead.

What is a homestead?

Homestead is a classification granted to properties that are owner-occupied or are occopied as a person’s primary place of residence..

The homestead classification is not automatic or transferred to you by the seller at the time of sale. You must apply for the homestead classification in your name after you purchase and move in.

Who is eligible for homestead?

Any property owner who is a Minnesota resident and occupies the property as his/her primary residence may apply for the homestead classification.

To be eligible you must own and occupy the property as your primary residence on January 2 or December 1, in order for taxes payable the following year to be classified as homestead. Application must be made no later than December 15.

State law also provides for the homestead classification to be extended to properties that are occupied by a qualifying relative of the owner. Special application is required and must be made in person by the owners and relative occupying the property. For more information on the relative homestead classification, contact the Assessor’s office for application instructions.

What are the tax benefits?
Homestead properties pay a lower property tax than non-homestead properties. In addition, to be eligible for other special property tax programs—such as the Minnesota Property Tax Refund—properties must be receiving the homestead classification.
How do I apply?

Before applying, you will need to locate your ownership documents. You would have received copies when you attended the closing for your property. Ownership documents consist of a deed (most likely a Warranty Deed) and copy of a Certificate of Real Estate Value. The deed can be identified by its name located in the upper left hand corner of the document. Other deeds that are common are Quit Claim, Contract for Deed (4 pages), Trustee’s Deed, and Personal Representative’s Deed. Your documents may possibly have a cover sheet that states “Homestead Instructions” which is an informational cover sheet provided by the closing company to guide you in the application process.

There are two ways to file for homestead:

  1. Visit City Hall, and bring along your ownership documents. You will be asked to complete a homestead application. Copies of your documents will be made to attach to the application. You will also be provided with a Welcome to Minnetonka packet filled with valuable information for new homeowners and residents of the city.
  2. You can also apply by mail. To do so, call the Assessor’s Office for an application form, or download and print out the homestead application below.

When applying by mail, please ensure that all sections of the form are completed thoroughly and that you attach copies of your documents. Missing information will delay the processing of your application.

Mail the form and documents to:

City of Minnetonka
Assessor’s Office
14600 Minnetonka Blvd
Minnetonka MN 55345

All applications for homestead will receive a homestead declaration card (see below) in the mail approximately 30 days after filing.

It is important that this card be completed and returned in order to complete the homestead application process.

If you have questions on filing for homestead or on completing the form please feel free to contact the Assessor’s Office at 952.939.8200.

What is a homestead credit?

A homestead credit is a statutory reduction in property taxes for certain residential property that is occupied as a person’s primary residence. To qualify for a homestead credit, the following criteria must be met:

  • You must be one of the owners of the property, or be a qualifying relative of at least one of the owners. A qualifying relative of the owner would include a son, son-in-law, daughter, daughter-in-law, stepchild, parent, parent-in-law, stepparent, grandchild, grandparent, grandparent-in-law, brother, brother-in-law, sister, sister-in-law, aunt, uncle, niece or nephew.
  • You must occupy the property as your primary place of residence.
  • You must be a Minnesota resident.

New homeowners and relatives who wish to obtain the relative homestead must apply in person at City Hall. You need to bring Social Security numbers for all owners who occupy the property, a copy of the certificate of real estate value, and a copy of the ownership document (warranty deed, contract for deed, quit claim deed, etc.). Even though Social Security numbers are private information under Minnesota state law, they must be provided before a homestead credit will be granted. Social Security numbers are used to determine if owners or relatives of owners have applied for more than one homstead in the state.

After the application is processed, a homestead declaration card (PDF) will be mailed to you. This card must be signed and returned to the Minnetonka Assessor’s office.

The homestead application is automatically renewed each year. No further action is required until the property is sold, rented, is no longer used as the primary residence, or the owner is no longer a Minnesota resident. In these instances, you must notify the Minnetonka Assessor’s office within 30 days of the change.

Property owners who are legally blind or permanently disabled may qualify for additional tax reductions.

For more info, contact the Minnetonka Assessor’s office, 952.939.8200.

Are the homestead credits on all properties the same?

No. The homestead credit is based on a number of factors. First, the homestead credit changes with the property’s market value. Second, not all properties are eligible for a full (100%) homestead credit. Third, there are other credits attached to homesteaded property, such as credits for the blind, disabled, or parapalegic that may also affect the amount of the homestead credit received.