Minnesota HF453 modifies the definition of income for property tax refund purposes.
Minnesota HF453 amends the definition of income for property tax refund purposes. It specifies that income includes federal adjusted gross income, contributions to retirement accounts, and other specified income sources. It excludes certain types of income such as pensions, alimony, and veterans' disability compensation. The bill also details deductions for dependents and certain circumstances. This change is effective for claims based on property taxes payable in 2025 and following years.
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