Dear neighbors,
I want to make sure you’re aware that the deadline for homeowners and renters to apply for a property tax refund is tomorrow, Thursday, August 15.
You can complete your application online or by mail. While the deadline to file is August 15, homeowners and renters have an additional one year grace period to claim a refund for 2013.
To find out if you qualify for a property tax refund, or to complete your application online, visit the Minnesota Department of Revenue’s website by clicking
here.
The 2013 legislature made property tax relief a priority, providing over $400 million in relief for Minnesotans through the Homestead Credit Refund (beginning in 2014), expanded renters’ credit and increased aid to counties, cities and townships. Some of these changes are effective this year, and some are effective next year. I want to clarify these changes.
As many of you know, the Market Value Homestead Credit Refund was eliminated in 2011, driving up property taxes by over $330 million statewide. To replace this gap in direct property tax relief, we created the Homestead Credit Refund this session, which will go into effect next year.
In 2014:
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More than 300,000 homeowners (75% of filers) will see an average refund increase of $212
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More than 137,000 additional homeowners will be eligible for a refund
In addition, we enhanced the Renters’ Credit this session, which provides property tax relief to Minnesota renters so that renters with the greatest need will see the greatest benefit (including many seniors and students).
Under the expanded credit:
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66,000 filers will see a bigger refund
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10,000 additional renters will qualify
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The average renter will see their refund increase by $179
The Minnesota Department of Revenue recently released information showing property taxes are projected to decrease for the first time since 2002, due to the 2013 state budget. These measures are projected to reduce property taxes next year by $121 million.
If you have any further questions about your property tax refund, or the changes recently enacted by the legislature that will be coming next year, please don’t hesitate to contact me. I appreciate hearing from you.
Sincerely,
Kim Norton