Minnesota HF826 establishes a senior citizen property tax credit and appropriates funds for its implementation.

Minnesota HF826 introduces a property tax credit for senior citizens, defined as individuals aged 65 and older, or married couples where at least one spouse is 65 or older. The credit applies to properties owned and occupied as a homestead for at least five years, with a total household income not exceeding $75,000. The credit amount is determined by the tax due on the property, minus three percent of the homeowner's total household income, with a minimum credit of $0. The bill also mandates that county auditors determine and certify the tax reductions to the commissioner of revenue.

Minnesota HF826 establishes a senior citizen property tax credit and appropriates funds for its implementation.

Minnesota HF826 introduces a property tax credit for senior citizens, defined as individuals aged 65 and older, or married couples where at least one spouse is 65 or older. The credit applies to properties owned and occupied as a homestead for at least five years, with a total household income not exceeding $75,000. The credit amount is determined by the tax due on the property, minus three percent of the homeowner's total household income, with a minimum credit of $0. The bill also mandates that county auditors determine and certify the tax reductions to the commissioner of revenue.