Minnesota SF2056 modifies the definition of income for property tax refund purposes.

Minnesota SF2056 amends the definition of income for property tax refund purposes by including federal adjusted gross income and certain nontaxable amounts. It excludes specific types of income such as certain pensions, alimony, and veterans' disability compensation. The bill also details how dependents and disability or age factors affect the exemption amount. This change is effective for property taxes payable in 2025 and later.

Minnesota SF2056 modifies the definition of income for property tax refund purposes.

Minnesota SF2056 amends the definition of income for property tax refund purposes by including federal adjusted gross income and certain nontaxable amounts. It excludes specific types of income such as certain pensions, alimony, and veterans' disability compensation. The bill also details how dependents and disability or age factors affect the exemption amount. This change is effective for property taxes payable in 2025 and later.