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Both value and acreage are limited by Minnesota homestead exemption laws,
yet both of these restrictions are far above national averages. The
total urban value that may be claimed is subject to a $200,000
limitation, and further restricted to one-half acre lot. Total rural
value is subject to a $500,000 / 160 acres limitation under the
provisions of the Minnesota Homestead Exemption Act. Owners of multiple
tracts, and owners of in excess of 160 acres may use the Minnesota homestead exemption form
to differentiate between tracts, or to designate 160 specific acres
within a larger area. To be effective, the form must be filed for record
with real estate division of the County Clerk's Office.
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