Minnesota SF1957 establishes a process for seniors to receive an advance homestead credit refund.

Minnesota SF1957 amends state statutes to establish a process for eligible senior claimants to receive an advance homestead credit refund. This advance credit is equal to 50% of the homestead credit refund the property owner received in the previous year. The bill also outlines the certification process for these credits and specifies that any overpayments must be repaid to the commissioner. The changes are effective for credits applied to property taxes payable in 2027 and thereafter.

Minnesota SF1957 establishes a process for seniors to receive an advance homestead credit refund.

Minnesota SF1957 amends state statutes to establish a process for eligible senior claimants to receive an advance homestead credit refund. This advance credit is equal to 50% of the homestead credit refund the property owner received in the previous year. The bill also outlines the certification process for these credits and specifies that any overpayments must be repaid to the commissioner. The changes are effective for credits applied to property taxes payable in 2027 and thereafter.