Minnesota SF443 establishes a senior property tax credit for eligible homeowners.

Minnesota SF443 establishes a senior property tax credit for eligible homeowners. Property is eligible if it is owned and occupied by at least one homeowner aged 65 or older. The credit amount is based on the difference between the current year's tax and the previous year's tax, adjusted by a factor of 1.08. The credit is applied to reduce the net property tax payable to local taxing jurisdictions. The bill also amends tax statement requirements and notice provisions for proposed property taxes. Effective beginning with property taxes payable in 2027.

Minnesota SF443 establishes a senior property tax credit for eligible homeowners.

Minnesota SF443 establishes a senior property tax credit for eligible homeowners. Property is eligible if it is owned and occupied by at least one homeowner aged 65 or older. The credit amount is based on the difference between the current year's tax and the previous year's tax, adjusted by a factor of 1.08. The credit is applied to reduce the net property tax payable to local taxing jurisdictions. The bill also amends tax statement requirements and notice provisions for proposed property taxes. Effective beginning with property taxes payable in 2027.