More Property Owners May Qualify for a Property Tax Refund This Year
Among the numerous changes made during the 2023 Legislative session this spring, the changes to the Minnesota property tax refund program will benefit many homeowners and renters in Minnesota in the form of property tax relief.
The general property tax refund amounts for the 2022 Homestead Credit Refund and the Renter’s Property Tax Refund were increased by 20.572 percent. This refund has income qualifications which were unchanged and remain similar to prior years.
The special refund is in place for property owner’s who saw a substantial increase in property taxes on their homestead property from one year to the next, regardless of their income levels. For many years, to qualify for this refund, the amount of property taxes paid had to increase by more than 12 percent. This threshold was decreased from 12 percent to 6 percent for property tax increases between 2022 and 2023. This reduction means that there may be property owners who would not have qualified for a refund in the past that may qualify for this year. Income levels do not impact eligibility for this refund. Anyone whose property tax rose by more than 6 percent from 2022 to 2023 is encouraged to look into this refund.
To learn more about this refund change, click here under the “Property Tax Refunds” link: https://www.revenue.state.mn.us/tax-law-changes
The M1PR form through the Department of Revenue is used to apply for both refunds. https://www.revenue.state.mn.us/sites/default/files/2023-07/m1pr-22_0.pdf
Homeowners are able to apply online: https://www.mndor.state.mn.us/tp/OnlineServices/_/