Bill > HF2715

This bill modifies the homestead credit refund program in Minnesota by adjusting income thresholds, percentage of income paid by homeowners, and maximum state refund amounts. The changes increase the income ranges and refund percentages for homeowners at different income levels, effectively providing more financial assistance to those paying property taxes. The bill updates income brackets from the previous version, raising the starting and ending points for each bracket (for example, the first income bracket now ranges from $0 to $2,199, up from $0 to $2,079). The state refund percentages are also modified, with some income levels seeing reductions in the percentage paid by the homeowner and increases in the state's contribution. The maximum household income for eligibility is raised from $135,410 to $143,140, and the maximum refund amount varies based on the household's income level, generally around $3,500 for most income brackets. The changes will be effective for property taxes payable after December 31, 2025, with annual inflation adjustments to the income thresholds and maximum refunds beginning in the 2025 statutory year.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2715&ssn=0&y=2025