To qualify for the homestead classification, a property must be both owned and occupied by the owner or occupied by a qualified relative of the owner who is a Minnesota resident on January 2nd of the assessment year, or on December 1st of the assessment year and an application for homestead must be completed by December 15th. The use for homestead purposes must be actual and substantial. (A "qualified relative" is defined as follows: parent, stepparent, child, stepchild, grandparent, grandchild, brother, sister, niece, nephew, uncle or aunt.)
To receive the homestead classification, the owner of the property must complete a Lake County Homestead Application and provide proof of ownership. If the property was purchased for more than $1000, a Certificate of Real Estate Value must be filed with the county auditor before the homestead classification can be extended to the property.
Property that is held in the name of a trust, a family farm partnership or a family farm corporation may qualify for the homestead classification. Contact the county assessor's office at 218-834-8314 for additional information or to request an application.
A person may only have one homestead. You need only file once for homestead. However the assessor may at any time require a homestead application to be filed in order to verify that any property classified as a homestead continues to be eligible for homestead status. If you receive an application to update the county records, complete the application and return it as soon as possible.
If there is any change in the ownership or homestead status of your property, you must notify the county assessor within thirty (30) days.