In Minnesota, having a homestead classification may qualify your property for a Market Value Exclusion effectively reducing the amount of taxable value on your home. 

Market Value Exclusion 

The exclusion reduces the taxable market value of qualifying homestead properties. By decreasing the taxable market value, net property taxes are also decreased. To see how it works and explain how it is calculated visit the Dept. or Revenue - Homestead Market Value Exclusion page.

Agricultural Homestead Tier Valuation Limits

Special Agricultural Homestead

You may also qualify for one of the following: 

View more Information at Department of Revenue

 Homestead page.