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7Lit'�C�'-�
<br /> Exemption From The Property Tax Of improvements
<br /> Made To Homes 35 Years Of Age Or Older
<br /> Read the following information before completing the application for exemption from the property taz of
<br /> improvements made to homes 35 years of a�e or older.
<br /> 1�iinnesota law encoura�es property o�vnen to restore or reaovate their older homes. This law, commonly referred to as
<br /> "This Old House" exempts from the property ta.Y alI or a portion of the value of improvements made to homes 35 years of
<br /> age or older.
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<br /> In order to be elig�ible for exemprion,the property must meet the follo.�ing three criteria:
<br /> 1. Property must be 35 years of age or older at the time the improvemenu commence.
<br /> 2. Property must be receiving the homestead classification. This includes property classified as residential homestead
<br /> (including duplexes and tripleses)blind/paraple�ic veteran/disabled homestead and agricultural homestead. Relative
<br /> homesteads are eligible for the exemption.
<br /> 3. The total market value of the property must be less than 51�0,000 (residential: land and buildings; agricultural:
<br /> house/garage/1 acre). In special circumstances, a property�vith a total market value of$I�0,000 or more but less thaa
<br /> $300,000 may qualify for the esemption. In these instances,your assessor�zll help you determine if your property is
<br /> eli�ible for the esemption. Properties with a total market value of$300,000 or more do not qualify for the exemptioa.
<br /> If your property is a condominium and your living unit is rec�iving the homestead classification, any improvemenu ma�e
<br /> to the unit would qualify for the exemption. Improvements to common areas are not eligible. If your property is a dupiez
<br /> or triplez and it is receiving the homestead classification, improvemenu made to anv portion of the propem qualify for the
<br /> esemption from the property ta.i. If vour propem•is used as a homestead and for a non-residential use,the e:semptiQn
<br /> applies only to improvements made to the residential ponion of the property receiving the homestead classification. For
<br /> e:cample, if your propem is used both for a residence and for a business,the e�emption applies only to the improvements
<br /> made to the homesteaded residential portion of your propem�.
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<br /> OnIy improvemenu that contribute a minimum value of�1,000 or more to the house or garage of a property ciassed as
<br /> homestead during the year of the improvement qualify for the e�emption from the property tax. This includes impravements
<br /> such as additions to the existin�house and gara�e, eYpansion of the eYisting house and gara�e, restoring, remodeling or
<br /> upgrading of the existing house, addidon of a porch or deck or consuuction of a ne�v garage. Please note thaz the area
<br /> qualifying for construction of a gazage is limited to 600 square feet.
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<br /> Improvements made to the site surrounding the home do not qualifi�for esemption. This includes such improvements to t6e
<br />� site as: construction of a fence, construcrion of a drive��a�•, installation of a la�vn sprinkler system,installation of a
<br /> swinuning pool or tennis court, landscaping of the grounds,a�rricultural buildings.
<br /> If more than 50 percent of the square footage of a house is torn down or razed,the original house is deemed to ao
<br /> longer exist, and any subsequent improvements made to the remaining structure are considered to constitute the const�vction
<br /> of a new house. As a result,the value of an�improvements would not qualify for exemption. -
<br /> If any combination of improvements doubie the original size of the structure, any improvement that further increases t�e
<br /> size of the structure will not qualify for esemption.
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<br /> There is a limit to the dollar value of the improvement which may be exempted. The limit depends on the age of the
<br /> properry. Houses that are less than 35 years of aae do not qualify. Houses that are at least 35 years of age but less
<br /> than 70 years are limited to one-half of the value of the improvement up to a ma�imum exemption of�2�,000. Houses
<br /> that are 70 years of age or oider are eligible to have the total value of any improvemenu exempted up to a ma.Yimum of
<br /> ��0,000. The ase of the house is based upon the number ofyears that the qualifying residence has e:usted on its preseat
<br /> site.
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