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State Representative Diane Loeffler
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-4219
For more information contact: Joan Nichols 651-29X-XXXX
Column/LTE
Property Tax Relief
To the Editor:
At a time when we are worried about having enough money to heat our homes and put food on our tables, the last thing we need to worry about is rising property taxes. The truth is that homeowner's property taxes have increased 81.7% over the past six years and are only adding to the burden that low and middle-income earners are already shouldering.
As a member of the House Property Tax Relief Committee I have been actively engaged in work on property tax relief and reform and am happy to tell you that there is a reasonable and responsible plan moving through the legislature.
The 2008 Property Tax Relief bill will offer long term property tax relief to Minnesotans by restructuring the current property tax system and making sure that relief is directed towards the people who need it the most. The bill will provide almost $250 million in permanent tax relief in 2009. In addition to direct financial relief, the bill will simplify the property tax system by replacing the homestead market value credit, property tax refund and state income tax deduction programs with one simple and fair Homestead Credit State Refund based on income and property value. If your property taxes are more than 2% of your income, you will be eligible for a Homestead Credit State Refund. The bill includes a renter's property tax refund that will provide tax relief to renters whose rent, which is often raised to cover increased property taxes, is high relative to their incomes. The bill will also provide $30 million in increased Local Government Aid to cities, $20 million to counties and $3 million to townships. All of this will be done by creating a more fair tax system and by asking all property owners to pay a more equal percentage of their income in state and local taxes. Providing relief to our seniors and families through a more equitable system will help us stabilize our neighborhoods.
I know that getting legislation passed and implemented is often a slow process. We are moving quickly to pass the property tax relief bill into law and to ensure that you get the help you need. In the meantime, I want you to know that there is help available if you are struggling with housing needs. The Home Ownership Center is an excellent resource for finding housing information, education, counseling and assistance. You can visit them online at www.hocmn.org and you can find more detailed information on foreclosure prevention assistance at www.hocmn.org/map.cfm?pageID=7.
I also want to remind you that it’s not too late to apply for a state property tax refund. Applications can be sent in until August 15th. Please call the Minnesota Department of Revenue at (651) 296-3781 for more information or visit www.taxes.state.mn.us.
Diane Loeffler
State Representative
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