The ABCs of homestead market value exclusion now available online
If you're losing your mind calculating your tax hit under the new homestead exclusion, Minnesota's Department of Revenue is now circulating a new "Tax Exclusion 101" primer.
"We now have a document on our website (www.taxes.state.mn.us) that is meant to help taxpayers understand the change from the homestead market value credit to the homestead market value exclusion," said DOR employee Jason Nord.
"It can be found as a featured link on both the 'Property Tax' page and the 'Property tax administrators" page.'"
The following link should get you directly to the document. http://taxes.state.mn. us/property/Documents/hmve taxpayers.pdf.
The PDF will also be posted on the Enterprise website. Essentially, the taxes on a home valued at $116,000 will rise $30 for 2012.