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Last Updated: 11/4/2016

Market Value Credits

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​The Agricultural Homestead Market Value Credit was enacted in 2001. The credit applies to property classified as an agricultural homestead – excluding the house, garage and first acre. This includes class 2a agricultural land that is homesteaded, along with any class 2b rural vacant land that is contiguous to class 2a land and under the same ownership.

(The residential credit was repealed and replaced by a Homestead Market Value Exclusion, effective for taxes payable in 2013.)

Payment to Taxing Districts for 2016

The listed payment amounts do not include credits to be paid to Tax Increment Financing Districts or prior year adjustments (both on real property or personal property reflected on the Manufactured Home Abstract). There were no reductions applied to the agricultural credits this year.

Determination of Payment Amounts

The payment amounts were reported on the 2016 Abstract of Tax Lists. Amounts are apportioned to taxing districts according to their share of the local tax rate.

 
Questions?

James Shanley, 651-556-6092, james.shanley@state.mn.us.