What is a homestead?
Homestead is a classification granted to properties that are owner-occupied.
The homestead classification is not automatic or transferred to you by the seller at the time of sale. You must apply for the homestead classification in your name after you purchase and move in.
Who qualifies?
Any property owner who is a Minnesota resident and occupies the property as their primary residence may apply for the homestead classification.
To be eligible you must own and occupy the property as your primary residence on January 2 or December 1, in order for taxes payable the following year to be classified as homestead. Application must be made no later than December 15.
State law also provides for the homestead classification to be extended to properties that are occupied by a qualifying relative of the owner. Special application is required and must be made in person by the owners and relative occupying the property. For more information on the relative homestead classification, contact the Assessor's office for application instructions.
What are the benefits?
Homestead properties pay a lower property tax than non-homestead properties. In addition, only owners of homestead property are eligible for the State Property Tax Refund.
How do I apply?
Before applying, you will need to locate your ownership documents. You would have received copies when you attended the closing for your property. Ownership documents consist of a deed (most likely a Warranty Deed) and copy of a Certificate of Real Estate Value. The deed can be identified by its name located in the upper left hand corner of the document. Other deeds that are common are Quit Claim, Contract for Deed, Trustee's Deed and Personal Representative's Deed. Social Security numbers for all owners of the property are also required.
Bring your documents to City Hall or mail to 1010 1st St S, Hopkins, MN 55343. You will be asked to complete a homestead application. After the application is processed, a homestead declaration card will be mailed to you. This card must be signed and returned to the Hopkins Assessor's office. The homestead classification will remain with the property until it is sold, rented or no longer used as your primary residence. In these instances, you must notify the Hopkins Assessor's office within 30 days of the change.
Property owners who are legally blind or permanently disabled may qualify for additional tax reductions.
Contact at 952-548-6310 for more information.