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7C2'.''-?'i94 � Exemption From The Property Tax Of Improvements i�Iade To Horries 3� Years Of Age Or Older Read the following information before completin� the application for exemption from the property taz of improvements made to homes 3� years of aQe or older. �iinnesota la�;•encourages propert�� o«ners to restore or renovate their older homes. This la�v, commonly referred to as "This Old House" esempts from*.he property tax all or a portion of the value of imprevemenu made to homes 3� years of a.se or older. , _ ' `..... ... :.'I'IfPES aF PRQPERTY,ELIG�BI�E�`OR;,THE EYE�iPTiO.�.. .... .:......... -- :::»: ., ..:: ..........;...... In order to be eligible for�semption, the property must meet the followzng three cnteria: 1. Property must be 3� years of a�e or older at the time the improvements commence. 2. Propem�must be receiving the homestead classification. This includes prooem c:assined as residential homestead (including dupleYes and tnple�es) blind/parapleQic veteran/disabled homestead and agricultural homestead. Relative homesteads are eligible for the eremption. ;. The total market value of the propem� must be less than �1�0,000 (residential: land and buildings; a�ricultural: house/�ara�e�l acre). In special circumstances, a propem��ith a total market value of�1�0,000 or more but less tha.0 $300,000 mav qualiin� ;or the eYemption. In these instances, vour assessor«-ill help you determine if your propertv is eli�ible for the esemption. Propenies wlth a totat market value of 5�00,000 or more do not qualify for the exemptioR If vour prooerR' is a condominium and ��our livin� ur.it is receiving the homesread cfassification, any improvements made to the uni[ w•ould qualif�� for the esemption. Improvemencs to common areas are not eligible. If your propertm• is a duplez or triples and it is recei�zng the homestead classification, improvements made to am� portion of the propem�qualif�•for the eYemption from the propem�ta�. If��our prope:[�' is used as a homestead and for a non-residential use, the esempt�on applies onl��to improvements made to the resiaential ponion of the propem receivinQ the homestead classitication. For eYample, if vour propem� is used beth ior a residence and ;or a business, the e�emption applies onl��to the improvemenzs made to the homesteaded residential porion of��our propem'. _. __ < 'i'YPES O� I��IPRO�'ElIE:�iTS TH:�1' QL':.�LIF�'�'OR THE;EXE�iPTIO�T . ; ...... .... ... .. . .:: . . OnIy improvements that contribute a minimum value of�1,OQ0 or more to the house or garaae of a property classed as homestead during the vear of the improvemeat qualif�- for the esemption from the propertc�tax. This includes unprovements such as additions to the existin� house and gara�e. e�pansion of the existin� house and�araQe, restorinQ, remodeling or upgrading of the eYisting house, addition of a porch or deck or construction of a ne�v�arage. Please note that the area qualifyzng ior construction of a gara�e is limited to 500 square feet. _: . _ _ , 'TYPES OF'Iti1PROVEI�IE�TS TH:�T DO.1'�OT:,QU:�LI�Y FOR EXE'�IPTI�'� : ..... .:... .....: ::.� :: ..... _ Improvements made to the site surrounding the home do not qualif��for esemption. This includes such unprovements to the site as: construction of a feace, construction of a drn�e�z�a}�, installation of a la��n sprinkler sy�stem, installation of a s«�imrrung pooi or tennis court, landscaping of the grounds, a�ricultural buildings. If more than 50 percent of the square footage of a house is torn down or razed, the original house is de�med to no longer e�cist, and an�� subsequent improvements made to the remaining structure are considered to constitute the construction of a ne�v house. �.s a result, the value of an�� improvements«'ould not qualify for exemption. � If any combination of improvements double the oriDinal size of the structure, an�� improvement that further increases the size of the structure wiil not qualiTti'for e�emption. , : . � . : :; ;. ' ` V:�I:LIE:L'�`IITr�.TI��S ... ;>> < -_... : ;. .. There is a limit to the dollar value of the improvement which may be exempted. The limit depends on the a�e of tt�e propertv. Houses that are less than 3� years of a�e do not qualify. Houses that are at least 3� years of ape but less than 70 years are !imited to one-half oL the value of the improvement up to a maximum e�emption of 52�,000. Houses that are 70 years of aDe or older are eligible to have the total value of any improvements e�empted up to a ma�cimum of 5�0,000. The ase of the house is based upon the number of vears that the qualift•in� residence has e�cisted on its presenz site.