HF4802
Increase in property value for homesteads owned by persons age 65 or older prohibited.
Legislative Session 94 (2025-2026)
Related bill: SF4946
AI Generated Summary
Purpose
- The bill aims to prevent increases in the assessed value (property value) for homesteads owned by people who are 65 years old or older, effectively capping how much their property value can rise for tax purposes.
Main Provisions
- Adds a new subdivision (273.121, subdivision 1) to Minnesota Statutes to establish the valuation limitation for eligible senior homesteads.
- Amends Minnesota Statutes 2024 section 273.11, subdivision 5, to ensure the valuation limit applies to the processes used by boards and officials that review and equalize property values. This includes the local board of review, the county board of equalization, the State Board of Equalization, and the commissioner of revenue.
- Clarifies that the valuation limitation operates notwithstanding other laws, meaning these authorities must apply the cap even if other valuation rules would normally apply.
- The bill also includes a related amendment to Minnesota Statutes 2024 section 276.04, subdivision 2, to align with the senior-homestead valuation limitation.
Significant Changes to Existing Law
- Creates a new statutory provision (273.121, subdivision 1) to establish the senior-homestead valuation cap.
- Expands which government bodies are bound by the valuation limit, extending protections to decisions by local, county, and state boards of review/equalization and the commissioner of revenue.
- Reinforces that the cap takes precedence over conflicting laws by using a “Notwithstanding any other provision of law” clause.
- Updates cross-referenced sections (including 276.04, subdivision 2) to reflect the new limitation.
Implementation and Scope
- Applies to homesteads owned by individuals aged 65 or older, with the intent of limiting annual increases in property value for tax purposes.
- Applies across relevant valuation/assessment processes handled by the local, county, and state levels as well as the revenue department.
Relevant Terms
- homestead
- property value / assessed value / valuation
- senior (age 65 or older)
- valuation limit / cap on increases
- boards of review and equalization
- local board of review
- county board of equalization
- State Board of Equalization
- commissioner of revenue
- Minnesota Statutes
- Notwithstanding
Bill text versions
- Introduction PDF PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| April 07, 2026 | House | Action | Introduction and first reading, referred to | Taxes | |
| April 09, 2026 | House | Action | Authors added |
Citations
[
{
"analysis": {
"added": [
"Extends the valuation limitation to boards of review and equalization and to the State Board of Equalization and the commissioner of revenue, by referencing sections 274.01, 274.13, 270.11 subdivision 1, 270.12, 270C.92, and 270C.94."
],
"removed": [],
"summary": "This bill amends Minnesota Statutes 2024 section 273.11, subdivision 5, to apply a valuation limitation on property increases for homesteads owned by persons age 65 or older to additional authorities involved in the property tax process.",
"modified": [
"Alteration of subdivision 5 language to require the valuation limitation to apply to the additional listed authorities."
]
},
"citation": "273.11",
"subdivision": "subdivision 5"
},
{
"analysis": {
"added": [
"Text of changes not included in the excerpt."
],
"removed": [],
"summary": "The bill mentions amending Minnesota Statutes 2024 section 276.04 subdivision 2, but the excerpt provided does not include the specific changes.",
"modified": []
},
"citation": "276.04",
"subdivision": "subdivision 2"
},
{
"analysis": {
"added": [
"Identifies 270.11, subdivision 1 as an authority to which the valuation limitation applies."
],
"removed": [],
"summary": "This is a cross-reference to Minnesota Statutes 2024 section 270.11, subdivision 1, as part of the framework for applying the homestead valuation limitation described in 273.11 subdivision 5.",
"modified": [
"Links the valuation limitation framework to the commissioner of revenue's authorities under 270.11."
]
},
"citation": "270.11",
"subdivision": "subdivision 1"
},
{
"analysis": {
"added": [
"Cross-reference to 270.12 included; no explicit changes shown in the excerpt."
],
"removed": [],
"summary": "Cross-reference to Minnesota Statutes 2024 section 270.12 to support the valuation framework; excerpt does not specify changes to this subsection.",
"modified": []
},
"citation": "270.12",
"subdivision": ""
},
{
"analysis": {
"added": [
"Cross-reference to 270C.92 included; no explicit changes shown in the excerpt."
],
"removed": [],
"summary": "Cross-reference to Minnesota Statutes 2024 section 270C.92 related to the valuation framework; excerpt does not specify changes to this subsection.",
"modified": []
},
"citation": "270C.92",
"subdivision": ""
},
{
"analysis": {
"added": [
"Cross-reference to 270C.94 included; no explicit changes shown in the excerpt."
],
"removed": [],
"summary": "Cross-reference to Minnesota Statutes 2024 section 270C.94 related to the valuation framework; excerpt does not specify changes to this subsection.",
"modified": []
},
"citation": "270C.94",
"subdivision": ""
},
{
"analysis": {
"added": [
"Cross-reference to 274.01 included; no explicit changes shown in the excerpt."
],
"removed": [],
"summary": "Cross-reference to Minnesota Statutes 2024 section 274.01; excerpt does not specify changes to this section.",
"modified": []
},
"citation": "274.01",
"subdivision": ""
},
{
"analysis": {
"added": [
"Cross-reference to 274.13 included; no explicit changes shown in the excerpt."
],
"removed": [],
"summary": "Cross-reference to Minnesota Statutes 2024 section 274.13; excerpt does not specify changes to this section.",
"modified": []
},
"citation": "274.13",
"subdivision": ""
}
]Progress through the legislative process
In Committee