Minnesota HF1643 modifies the definition of income for property tax refund purposes.

Minnesota HF1643 amends the definition of income for property tax refund purposes. It specifies that income includes federal adjusted gross income and certain nontaxable income, while excluding certain amounts such as excluded amounts under the Internal Revenue Code and certain pensions or annuities. The bill also details deductions for dependents and other specific exclusions. This change is effective for claims based on property taxes payable in 2025 and thereafter.

Minnesota HF1643 modifies the definition of income for property tax refund purposes.

Minnesota HF1643 amends the definition of income for property tax refund purposes. It specifies that income includes federal adjusted gross income and certain nontaxable income, while excluding certain amounts such as excluded amounts under the Internal Revenue Code and certain pensions or annuities. The bill also details deductions for dependents and other specific exclusions. This change is effective for claims based on property taxes payable in 2025 and thereafter.