Homestead Credit FAQ

Q: What is a homestead credit?
A: A homestead credit is a reduction that is applied to your general property tax for property that you occupy and own as your primary place of residence.

Q: How do I qualify for a homestead credit?
A: To qualify for a homestead credit, you must meet all of the following requirements: You must be one of the owners of the property, or be a qualifying relative of at least one of the owners. You must occupy the property as your primary place of residence. You must be a Minnesota resident. (If the property is the primary residence of a qualifying relative of an owner, it is not necessary for the owner to be a Minnesota resident.)

Q: What do I have to do to receive a homestead credit for my property?
A: To receive a homestead credit, you must comply with all of the following requirements: You will be required to show proof of ownership which includes a copy of the Warranty Deed and Certificate of Real Estate Value. You may complete a homestead application in the Assessing Department; names and social security numbers of all of the owners of the property must be provided, and if the property is not owner occupied, the names and Social Security numbers of the owner's relatives who occupy the property as their primary place of residence. All of the owners and, if the property is not owner occupied, all of the owners' relatives occupying the property must sign an initial homestead application. The City will forward your application, Deed and Certificate of Real Estate Value to Anoka County. You may fill out an application at Anoka County as well or download the application and mail the completed application to Anoka County along with your Warranty Deed and Certificate of Real Estate Value.

Q: Is the Amount of Homestead Credit on all properties the same amount?
A: No. The homestead credit is based on a number of factors, including property market value. Not all properties are eligible for a full (100%) homestead credit. Credits disabled persons may also affect the amount of the homestead credit received. Homestead credit is eliminated after a property value exceeds an approximate value of $400,000.

Q: What will happen if I sell or move out of my home? Do I need to tell the Assessor?
A: Yes. You must notify the assessor within 30 days of sale of property or if it is no longer your primary place of residence.

Q: Is there anything else I should know about homestead?
A: Every homestead is unique. Some homesteads involve property held under a trust agreement. Other property is purchased with lender requirements that may affect the homestead classification. You are encouraged to contact the Assessing Division with any questions you may have.

Additional printed information about homesteads is available by referring to Minnesota Statute Chapter 273.124.