ST. PAUL, MN – State Representative Jason Isaacson (DFL – Little Canada) 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.
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% decrease from 2013.
“Many communities are seeing lower property tax rates for the first time in years,” said Isaacson. “Our local elected officials and the state legislature deserve credit for making that happen. When you combine strong leadership at the local level with effective tools at the state level like Local Government Aid and direct property tax refunds, all without sacrificing our high quality of life, Minnesota taxpayers win.”
Before factoring in property tax refunds, Shoreview homeowners saw their property tax rate decline by 2.8 percent, Vadnais Heights homeowners saw their rate decline by 2.3 percent, Little Canada homeowners saw their rate decline by 0.4 percent and Gem Lake homeowners saw their rate decline by 8.6 percent.
In Ramsey County, over 54,000 homeowners and over 50,000 renters are eligible for larger refunds this year compared to last year.
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. Jason Isaacson with questions:
With any questions, Rep. Isaacson can be reached by phone at (651) 296-7153, by email at rep.jason.isaacson@house.mn or by postal mail at 545 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.