This bill amends Minnesota Statutes 2024, section 273.13, subdivision 35, to modify the homestead market value exclusion. It introduces new provisions that allow for the exclusion of the value of an accessory dwelling unit when calculating the market value exclusion for certain property classifications, including class 1a, 1b, and 2a properties, as well as class 4d(2) properties. The bill defines an "accessory dwelling unit" as a secondary dwelling that is either within or attached to the principal homestead or located in a detached accessory building on the same parcel.

Additionally, the bill specifies that the new provisions regarding accessory dwelling units will take effect starting with the assessment year 2027. This change aims to provide tax relief for homeowners with accessory dwelling units by excluding their value from the calculation of the homestead market value exclusion, thereby potentially lowering their property tax burden.

Statutes affected:
Introduction: 273.13