To qualify for a homestead, a property must be both owned and occupied by the owner on January 2 of the assessment year for a full homestead, or on December 1 of the assessment year for a mid-year homestead. You must also be a Minnesota resident. Applications must be received by December 15.
Certificate of Real Estate Value
A (Certificate of Real Estate Value (CREV) must be filed at the Auditor-Treasurer's Office to receive the homestead classification if the consideration is greater than $1,000.
Properties Under Contract
The interest of a purchaser under a contract for deed entered into prior to January 2 is sufficient to entitle the property to a homestead classification if the purchaser is in actual occupancy of the property on January 2.