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�i g''."n'.�94 ` Exemption From The Property Tas Of Improvements �Iade To Homes �� Years Of Age Or Older Read the following information before completin� the application for exemption from the property taz of improvements made to homes �� years of a�e or older. viuinesota law eacoura�es property o�z�ne:s to :estore or renovate their oider homes. This law, commonlv:eferre:i to as "Tnis Old House" esempu :rom the prooem�tax alI or a portion ot the value of improvemeau made to homes 3� years of a.�e or older. .. ,, ... - ; TYPES.aF.PR�PERTY �LTGIBI�E�OR:TI�E::EYE�iPTIO�......: ....... .. ....... ': . ,_.. ._.... - :...... .. `.. ... . ..................... In order to be eligibie for eYe:nprion, the property must meet the foilo«1ng three cntena: 1. Property must be �� years oi a�e or older at the time the improvemenu commence. 2. Propertv must be rec�iving t'tie homestead ciassincation. This includes prope:t�� c?assined as resideatial homest�:d (inciuding dupteses and tnpleses) blind/oaraple�ic vete:anidisaoied hemestead and a�ncultural homestead. Re?arn-e homesteads are eligible for the exe:notion. 3. The total market value oT the proDerty must be less than �1�0,000 (resideatial: land and buildings; agriculturai: house,�ga�-�e,�l ac:e). In special c:rcumst3nces, a prooert�•«zth a total market value oi�I�0,000 or more but less ti�n �300,000 mav qualii�• ior the exe�ption. In these instances, your assessor�tzll help you determine if your properrv is e.igible for the exemption. P:operties «1th a total market vaiue of S�00,000 or more ao not quaiiiy tor the exe:r.paa� If vour prooe;t�� is a condominium and��our livin� unit is receiving L".e hom�stead cfassification, an�' improve:ne:its ma�e to the unit wouid qualiiv for the e�emotion. Improvements to common areas are not e!igible. If your prope:ty is a duplez or triples and it is rec�i�zn� the homestead classificauon, improvements made to an�� portion or the prooerty qualifs•icr the esem�cion from the prope:t��ta.�.. If your prope.m is used as a homestead and for a non-residential use, the eYemot�on a�plies onlv to imorove:nents mad� to the rzsidential portion of the propert�' reiemot on a �1 zsso la the imp ovemeats e:cample, if your propercy is used both ior a residence and ,or a business, the e. , p. _ made to fhe homest�de� residential ponion oi�•our prope;t��. . . _ _ ; .�YPESQ�`I�IPROVE�iE'YTSTH?�'I',QL�-�I,IEYFORT�IEE.�E�IPTIO�.. ';.---.. . . ...,.. .. ....... ..... >:... ..::... Qniv improvemenu that contribute a muumum value of�1,000 or more to the house or garage oi a propem� ciassed as homestead durin�the year of the improvemeat qualify for the e�e:nption :rom the property tax. This inc:udes improve:nents such as additions to the esisting house and gara�e. eYpansion of the e�istin�house and�ara�e, restorine, remodeling ar upgrading of the esisting house, addition ot a porch or deck or construction of a ne`v 4ara�e. Please note Lhat the area qualifying ior construc:ion of a�ara�e is limited to h00 square feet. _ ..... ` '.TYPE�OF�I�IPROj�:1�IE�ITS.TH�T,DO;i�rQT:QU��IFY EQR E��CE'�IPTIO� ;..... . . ........ _ _;>; ....::....... Improve:nents made to the site surroundin2 the home do not qualin�for e�emption. This includes such improvements to the site as: construcuon of a feace, construction of a drive�ti�a}�, installation of a la�z� sprinkler system, installation of a s�vinuning pool or tennis court, landscaping of the grounds, aQricultural buildings. If more than 50 percent of the square foota;emadeho the rema ning s ructu eZae onsidezed to�cosnstitu e the�coo n��OL longer e�cist, and any subsequent unprovements . of a ne�v house. ?+s a result, the value oi an�� improvements would not qualify for exemption. I{�y combination of improvemenu double the ori;inal size of the structure, an�•improvement that�archer inc:�ses t�:. size of the struc:ure wzjj Rot qualiiv for�Y.,-npuon < V�I,U�L�h�IT��`I��I� .. : .. = < . ... : .- - _. _ .. . ......::..... .. e ot the _ . .. ?here is a limit io the dollar value of the improvement which may be exempted. The limit depends on the a.� property. Houses that are less than 3� years of a�e do not qualiiy. Houses that are at least 3� years of ase but less than 70 years are !imited to one-half of the value of the improvement up to a ma�imum eYemption of 52�,000. Houses that are i0 years of ase or older are eligible to have the total value of any improvements e�empted up to a ma-`c��°f 5�0,000. The a�e of the house is based upon the number of vears that the qualifying residence has e.�sisted oa it.s Prese�s site.