The bill amends Minnesota Statutes 2024, section 273.124, subdivision 14, to modify the requirements for special agricultural homesteads. It specifies that real estate of less than ten acres, which serves as the homestead of its owner, must be classified as class 2a if it meets certain criteria, including being contiguous to agricultural land or land administered by the U.S. Fish and Wildlife Service or the Department of Natural Resources. Additionally, the owner must possess a noncontiguous parcel of agricultural land of at least 20 acres, located within four townships or cities from the homestead, and the agricultural use value of the noncontiguous land must equal at least 50% of the market value of the homestead.

The bill also introduces new provisions regarding the classification of agricultural homesteads, including the requirement for an initial full application to be submitted to the county assessor, with subsequent years allowing for a simplified one-page reapplication if certain conditions remain unchanged. Furthermore, it clarifies that agricultural land and buildings classified as class 2a for specific assessment years will retain their classification under certain conditions, such as abandonment due to natural disasters. The effective date for these changes is set for the assessment year 2026.

Statutes affected:
Introduction: 273.124