St. Paul, MN – State Representative Tim Faust (DFL – Hinckley) says time is running out for Minnesota homeowners and renters to apply for a property tax refund.
Applications must be submitted to the Minnesota Department of Revenue by Friday, August 15.
“I encourage all eligible taxpayers to apply for the property tax refund you are entitled to,” said Faust. “Many Minnesotans will receive bigger refunds this year and others will receive a refund for the very first time. Those dollars add up and make a positive difference in people’s lives, especially senior citizens living on fixed incomes.”
A recent report from the non-partisan House Research Department report found that property taxes will drop by $49 million this year – the first decrease since 2002. Homeowners will see the most significant decrease. Statewide, homeowner property taxes are decreasing by $171 million in 2014, a 5.2 percent decrease from 2013.
Before factoring in property tax refunds, property tax rates declined for homeowners in Mora (down 3.2 percent), Pine City (down 1.1 percent), Sandstone (15.8 percent), Hinckley (down 14.8 percent) and Rock Creek (down 1.7 percent).
In Pine County, over 2,300 homeowners and over 1,200 renters are eligible for bigger refunds this year compared to last year. In Kanabec County, over 1,000 homeowners and over 600 renters are eligible for bigger refunds.
To look up eligibility requirements and application instructions, Minnesotans can visit www.revenue.state.mn.us or by calling the Department of Revenue at 651-296-3781 or 1-800-652-9094.
Information for homeowners:
You may be eligible for a property tax refund of up to $2,580 if you are a homeowner and your household income was less than $105,500 in 2013. To apply for the Homestead Credit Refund, complete Form M1PR (click here to download) and submit to the Department of Revenue by August 15, 2014.
-You must be a full-year or part-year Minnesota resident.
-You must have owned and lived in your home on January 2, 2014.
-Your property must be your homestead.
-You cannot be a dependent.
Information for renters:
You may be eligible for a property tax refund of up to $2,000 if you are a renter and your household income was less than $57,170. To apply for the Renter's Property Tax Refund, complete Form M1PR (click here to download) and submit along with a Certificate of Rent Paid to the Department of Revenue by August 15, 2014.
-You must be a full-year or part-year Minnesota resident.
-You must live in a building on which property taxes are paid.
-You must have a Certificate of Rent Paid (CRP) for each rental unit you lived in during 2013.
-You cannot be a dependent.
Contact Rep. Tim Faust:
With any questions, Rep. Faust can be reached by phone at (651) 296-0518, by email at rep.tim.faust@house.mn or by postal mail at 567 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.