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`-- • � ��9a Exemption From The Property Tax Of Improvements Nlade To Homes 35 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 a�e or older. �linnesota law encourages property o�zners to restore or renovate their older homes. This law, commonlv referred to as "This Old House" exempts from the propem�tax all or a portion of the value of imprevemenu mad�to homes 3� vears of a.�e or older. . ,. ,, . ...:.:::. ......':. .. . :. ;.... ....." .T'YPES flF;PRQP�R�`Y ELIGIBI�E�DR;;THE,EYE�iPTiO:�. ;.... :;.::......... _..:.::>: In order to be eligible for�semption, the property must meet the follo��ng three criteria: 1. Property must be 3� vears of a�e or older at the time the improvements commence. � 2. Property must be receiving the homestead classification. This includ�s propem� c:assined as residential homestead (including duplexes and tnple�es) blind/paraplegic veteran/disabled homestead and agricultural homestead. Relative homesteads are eligible for the exemption. 3. The total market value ofthe propem� must be less than �1�0,000 (residential: land and buildines; a�ricultural: house/gara�e/1 acre): In special circumstances, a propem•�vith a total market value of�I�0,000 or more but less than $300,000 may qualin� for the exemption. In these instances, your assessor�vill help you determine if vour property is eligible for the ezemption. Properties with a total market value of 5300,000 or more do not qualify for the exempuocL If vour prooe:tt� is a condominium and ��our livino unit is recei�•ing the homestead classification, an�� improvements made to the unit«�ould qualify ior the e�emption. Improvements to common areas are not eli�ible. If your property is a duplez or triples and it is recei�zng the homestead classification, improvements made to am• portion of the propem�qualify for the esemption from the propem�ta�. If��our propenv is used as a homestead and for a non-residential use, the esempt;on applies only to improvements made to the residential portion of the propem- receivina the homestead classihcation. For eYample, ifyour prope;t�• is used beth ior a residence and for a business. the exemption applies onl�� to the improvemenTs made to the homesteaded residential portion of��our prope�. , __ ,. . ;; 'i'YPES O�'.I�IPROVE�IEi�TS TH�T QLF.-�LTFY FOR THE E,YEl�iPTIO�'., .. ... ....... .:..: . :. .:>. .. ....... . Only unprovements that contribute a minimum value of�1,000 or more to the house or�araae of a propem•classed as homestead during the year of the improvement qualify for the esemption from the propem�tax. This inc;udes improvements such as additions to the esistin7 house and gara�e. eYpansion of the existin� house and garaQe, restorin�, remodeling or upgrading of the eYisting house, addition of a porch or deck or construction of a ne�v garage. Please note that the area qualifyin� ior construction of a�arage is limited to h00 square feet. ,..,, _ _. _ .. ..;.,: <..... .. .. .TYPES OF'I�IPROZ'E��IE�ITS.TH�T DO:�'OT QU aLI�'Y FOR EXE�IPTI4�.;:: ... <.. . ..; : .. Improvements made to the site surrounding the home do not qualif��for esemption. This includes such improvements to the site as: construction of a fence, construction of a drive«�a}•, installation of a law-n sprinkler sy�stem, installation of a sti��irnnung pool or tennis couct, landscapin� 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 deemed to no longer e�eist, and any subsequent improvements made to the remaining structure are considered to constitute the construction of a new house. As a result, the value of an�� improvements�vould not qualify for exemption. • If any combination of improvements double the orisinal size of the structure. an�� improvement that fur[her increases the size of the structure wzll not qualify for exemption. ., ,:. � - V.�i:LIE.IIFMITr�Ti4�S ::< . ,>:....: _ ,.: .... :.;.. ::: _ _ ::.:... ........ .::: .. There �s a limit to the dollar value of the improvement which may be exempted. The limit depends on the a�e of the proper[y. Houses that are less than 3� years of a�e do not qualif��. Houses that are at least 3�years of ape but less than 70 years are ?imited to one-half ot the value of the improvement up to a ma�imum e�emption of 52�,000. Houses that are 70 years of aDe or older are eli�ible to have the total value of any improvements e�empted up to a maYimum of 5�0,000. The age of the house is based upon the number of years that the qualif�•ing residence has existed on its presenz site. I I I