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ti ��:.Tn'�9a <br /> Exemption From The Property Tax Of Improvements <br /> iVlade To Homes 35 Years Of Age Or Older <br /> Read the following information before completin� the application for exemption from the property tai of <br /> improvements made to homes 3� years of a�e or older. <br /> 1�Iinnesota la«• encoura�es propem•o�t�ners to restore or renovate their older homes. This la�z�, commonlv refened to as <br /> "This Old House" exempts from the property tax alI or a portion of the value of imprevemenu made to homes 3� years of <br /> age or older. <br /> ,. . : ,. <br /> ,.: ::.:::.::....:.... <br /> >::.;:;::;;;:.. . <br /> . T"'S�PES£)F PRQP�R�Y ELiGIBL��'�R:THE;E�E�iP°I'IO� : .... ...:.. ..:';:>;>::;;;::;::;: ' <br /> ::::::::...:....::.�................. . . .. ...�........... <br /> In order to be eligible for esemption, the propem•must meet the followzng three criteria: <br /> 1. Property must be 3� years of age or older at the time the improvements commence. <br /> 2. Property must be receiving the homestead classification. This includes property c:assified as residential homestead <br /> (including duplexes and tripletes)blind/paraple�ic ve:�;an/disabled homestead and agricultural homestead. Relative <br /> homesteads are eligible for the exemption. <br /> ;. The total market value of the propem� must be less than�1�0,000 (residential: land and buildings; agricultural: <br /> house/�ara�e/l acre). In special circumstances; a propem���zth a total market value of�I�0,000 or more but less than <br /> $300,000 may qualiiy for the eYemption. In these instances,your assessor«�ill help you determine if your property is <br /> eli�ible for the e�emption. Propenies w-ith a total market value of$300,000 or more do not qualify for the exemptiocL <br /> If vour prope:ty is a condominium and ��our living unit is recei��ing the homestead classification, anv improvements made <br /> to the unit w�ould qualify for the e�emption. Improvements to common areas are not eligible. If your property is a duplez <br /> or triples and it is recei�zn�the homestead classification, improvements made to an�• portion of the propem•qualify for the <br /> eYemption from the propem•ta�. If�•our property is used as a homestead and for a non-residential use, the esempt:on <br /> applies only to improvements made to the residen[ial portion of the propem- receivinQ the homestead classihcation. For <br /> eYample, if your properr�� is used both for a residence and for a business. the e�emption applies onl��to the improvemenzs <br /> made to the homesteaded residential ponion of}�our propem�. <br /> . _. .. __ _ . <br /> : ,!'YPES OF I�•IPROVEtiIE�VT5 TH.�T QLF.�LTFY FOR THE E.�E�iPTIO'�...... ........ . ............ <br /> ...:.: .. ...:.. ... ..... . <br /> Oniy improvements that contribute a minimum value of�1,000 or more to the house or garaae of a property classed as <br /> homestead during the year of the improvement qualifv for the e�emption from the proper[��tax. This inc:udes improvements <br /> such as additions to the esistin� house and�arage, eYpansion of the e�istinQ house and�araQe, restorino; remodeling or <br /> upgrading of the esisting house, addition of a porch or deck or construction of a new gara�e. Please note that the azea <br /> qualif�in�ior construction of a garage is limited to 600 square feet. <br /> _ . , ::..::.: <br /> TYPES.OF I�'IPROL'EiYIEi�('TS TH�T DO,:�'OT.QU�LI�Y FOR EXE�IPTIQ�;.;;...... ........ :: .::�:: <br /> , _ . <br /> ,.:.. ..... <br /> Improvemenis made to the site surrounding the home do not qualifir for esemption. This includes such improvements to tbe <br /> site as: construction of a feace, construction of a drive«�a�•, installation of a la��n sprinkler system, installation of a <br /> s�vimming pool or tennis courc, landscapin� of the grounds, agricultural 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 no <br /> longer e�cist, and any subsequent improvements made to the remaining structure are considered to constitute the consw�tion <br /> of a new house. ?�s a result,the value of an�� improvements«�ould not qualify for esemption. • <br /> If any combination of improvements double the oriainal size of the structure, an�• improvement that further increases t�e <br /> size of the structure will not qualify for e�emption. <br /> ;:'>::;:'.<.;>::.;_;<�::><��>:::.>::<::<:::�::::::�::::::;;; <br /> ; :.: ��:. :.:;.:::;::>:::::::>:::::r:;;>::.;::::;::;:::<:::<:::;:::;::,T_=%;-::;:; <br /> ;:.:::::::.::.;:<:;<:.;:�;:.::>;::::: - ' ' . , >. . : i. i ., ...,:.,..;�::': <br /> ,::���: <br /> � ��.u�;:L����.��o�s : : : . .. : .. <br /> ..: ,:: ....:. .... ........: . .....,. :.. .... . .... ;... :... <br /> There is a timit to the doilar value of the improvement which may be exempted. The limit depends on the a.�e of the <br /> property. Houses that are less than 3� years of age do not qualify. Houses that a.�� at least 3� years of a°e but less <br /> than 70 years are ?imited to one-half of the value of the improvement up to a ma�imum e�emption of 52�,000. Houses <br /> that are 70 years of age or older are eli�ible to have the total value of any improvemencs e�empted up to a maYimum of <br /> ��0,000. The age of the house is based upon the number of years that the qualifi•ing residence has eYisted ori iu presenz <br /> site. <br />