The St. Louis County Assessor's Department has an important reminder for anyone who moved last year: the deadline to apply for homestead classification is December 31, 2024. The property owner must apply for this classification. It does not happen automatically at closing.
A homestead classification may qualify the property for a reduced classification rate, reduced taxable market value, property tax refund, and/or special program eligibility. New this year - the legislature changed the formula to better reflect rising home values. Homeowners will receive maximum homestead credit for homes valued up to $95,000. Previously it was $76,000. The homestead exclusion in 2025 will phase out for homes valued at $517,200. Previously the amount was $413,800.
To be eligible, a property must be occupied as a Minnesota resident's primary residence. It can be occupied either by the property owner or a qualifying relative. Full eligibility rules can be found online at stlouiscountymn.gov/assessor.
"Having the homestead classification will likely reduce the amount a homeowner pays in property taxes," said Mary Garness, Director of Public Records and Property Valuation. "So we want to give people advance notice to get this taken care, so they're not scrambling during the holidays to get this done, or worse, missing the opportunity. Because unfortunately after the deadline, there's nothing we can do."
To apply for the homestead classification, people can contact any of the following St. Louis County Assessor's Offices: Duluth, 218-726-2304; Virginia, 218-471-7147; Hibbing, 218-312-8389; Cook, 218-471-7705; or Ely, 218-365-8236. There's also a toll-free number for people calling long distance from within St. Louis County: 1-800-450-9777.
