The new Ag Homestead Tax Credit is seen as a highlight of the Minnesota legislative session. Minnesota Soybean Growers Association Past President Jamie Beyer says this policy change will ease the farmers’ tax burden by setting the tier valuation limit for agricultural homestead property at $3.5 million for assessment year 2024. “This was an initiative that came through the MSGA resolution process in 2021 so to have it ennacted already in 2023 is pretty exciting.”
