HF436 (Legislative Session 94 (2025-2026))
Homestead market value exclusion established for property owned by persons 65 years or older and retired.
Related bill: SF3305
AI Generated Summary
This bill proposes changes to property tax rules in Minnesota specifically for residents who are 65 years or older and retired. It plans to introduce a homestead market value exclusion for their properties, which could reduce the market value of their homes for tax purposes. Additionally, the bill updates how property owners are notified about their taxes, allowing for electronic notifications and ensuring they know about any changes in property assessments or classifications. The bill ensures that assessors have the necessary funds to carry out these notifications, with provisions for state financial assistance if local funds are insufficient. This bill aims to offer tax relief to elderly retired homeowners and improve the communication between property assessors and property owners.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 12, 2025 | House | Floor | Action | Introduction and first reading, referred to | Veterans and Military Affairs Division |
| February 16, 2025 | House | Floor | Action | Motion to recall and re-refer, motion prevailed | Taxes |
| February 19, 2025 | House | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [
"Owners can now receive electronic notifications upon request."
],
"removed": [],
"summary": "This bill amends the notification procedures related to property assessment under section 273.121.",
"modified": [
"Clarifies notification content requirements for property value and classification."
]
},
"citation": "273.121"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill references procedures under section 274.01 for the local board of appeal and equalization.",
"modified": []
},
"citation": "274.01"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References the review process for property assessments under section 274.13.",
"modified": []
},
"citation": "274.13"
}
]