Minnesota HF883 establishes a senior citizen property tax credit and appropriates funds.

Minnesota HF883 establishes a senior citizen property tax credit for eligible homeowners. To qualify, the property must be classified as 1a or 1b or an agricultural homestead, and the homeowner must be at least 65 years old. If married, the other spouse must be at least 62 years old, and the total household income must not exceed $75,000. The property must be owned and occupied as a homestead for at least five years. The credit amount is equal to the tax due on the property after other credits, minus three percent of the homeowner's total household income.

Minnesota HF883 establishes a senior citizen property tax credit and appropriates funds.

Minnesota HF883 establishes a senior citizen property tax credit for eligible homeowners. To qualify, the property must be classified as 1a or 1b or an agricultural homestead, and the homeowner must be at least 65 years old. If married, the other spouse must be at least 62 years old, and the total household income must not exceed $75,000. The property must be owned and occupied as a homestead for at least five years. The credit amount is equal to the tax due on the property after other credits, minus three percent of the homeowner's total household income.