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State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Sandy Connolly 651-296-8877
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HOUSE TAX BILL WOULD EASE BURDEN OF RISING PROPERTY TAXES
St. Paul, MN State Representative Patti Fritz joined her colleagues in the House today to pass a property tax bill that will bring relief to thousands of Minnesotans who are paying more than 2% of their income in property taxes. The bill does not increase taxes, but instead restructures the current system to provide relief to people who need it the most seniors, families and farmers.
"If we do nothing, 1.5 million households will see property tax increases next year which is simply not acceptable," said Fritz. "I am especially concerned about the seniors, families just starting out, and homeowners who have lost a job in these tough economic times. This bill will offer them relief by linking their property taxes more directly to their ability to pay."
The main component of the legislation is the creation of the "Homestead Credit State Refund". Over the past few years, as a result of cuts to local government and county aid, and inadequate school funding, property taxes have skyrocketed. Between 2002 and 2008, property taxes increased by $2.7 billion, squeezing the budgets of many homeowners and even forcing others out of their homes.
"For many people, the taxes they thought they could afford when they bought their homes have become too big of a burden," said Fritz. "If you make under $200,000 a year, and are paying more than 2% of your income in property taxes, you will be eligible for this refund."
To see how your property taxes would be affected under the proposal, check out the Property Tax Calculator on the House web page at http://www.house.leg.state.mn.us/hrd/issinfo/hmvccalc5a.xls
Other provisions of the bill include a $30 million increase in local government aid, $20 million to counties and $3 million to townships. Under this bill, the city of Faribault would receive an additional $432 thousand in LGA in 2009, and Rice County will receive an additional $263 thousand as early as this year.
The bill also includes foreclosure assistance to individuals and communities, Bovine TB tax credits, homestead expansions and agricultural benefits in lower tax rates.
"One of our top priorities this session was to offer some relief to homeowners who are struggling to keep up with rising property taxes," said Fritz. "This bill meets that benchmark, and I am hopeful the Governor will agree and sign it into law."
For more information, contact State Rep. Patti Fritz at 651-296-8237, or by email at rep.patti.fritz@house.mn.
News Items
- STATE REP. PATTI FRITZ PARTICIPATES IN START OF LEGISLATIVE SESSION - (Posted: Jan 9 2013 3:32PM)
- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Lets Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
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