Agricultural Homestead credit applies to property classified as agricultural, excluding the house, garage, and first acre. The amount of the agricultural homestead credit varies depending on the market value of the property. The maximum amount of the credit is $345 for agricultural property with a market value of $115,000. As the property's market value increases above $115,000, the amount of credit decreases to a minimum of $230.
Several criteria must be met to obtain an agricultural homestead:
The land must meet the definition of agricultural property
The parcel must be a minimum of 10 acres in size
The owner must be a Minnesota resident
Neither the owner or spouse may claim another agricultural homestead in Minnesota
The owner or a qualifying relative must be actively farming the property
There are numerous situations where an agricultural property can receive homestead. A few of them are:
A qualifying relative occupies the property
A child of the owner or owner's spouse is actively farming the agricultural property either on their own behalf or on behalf of an authorized entity
Property is occupied by the owner and leased to an authorized entity
Use the homestead estimator to estimate your homestead credit. Enter in your taxable market value and press the button to calculate an estimate.
Determine Your Qualifications
Please use our flow chart (PDF) to determine if your property qualifies for the agricultural homestead classification. Then contact the assessor in your area to discuss your situation and apply for agricultural homestead.