Minneslate Logo

HF2715 (Legislative Session 94 (2025-2026))

Homestead credit refund co-pays reduced.

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to modify the property tax refund system for Minnesota homeowners, specifically by adjusting the homestead credit refund copays. This is intended to alleviate the financial burden of property taxes relative to household income levels.

Main Provisions

  • Adjusted Copays: The bill outlines new percentages of household income that homeowners must pay relative to their property taxes.
  • Refund Calculations: It stipulates the calculation method for state refunds based on adjusted household income brackets and the corresponding property tax percentages.
  • Income Brackets: Various household income ranges are defined, each with specific copayment percentages and maximum allowable state refunds.

Significant Changes

  • The bill revises the existing Minnesota property tax refund law (section 290A.04) by altering the percentage of income homeowners must pay for their property taxes.
  • It introduces updated brackets for determining the maximum state refund amounts allowed based on different levels of household income.
  • Payment provisions are adjusted, stipulating that no refunds are available for household incomes of $135,410 or more.

Relevant Terms

  • Property tax refunds
  • Homestead credit refund
  • Household income
  • State refund

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 23, 2025HouseFloorActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Updated income brackets and corresponding percentages for calculating the refund."
      ],
      "removed": [],
      "summary": "This bill amends the property tax refund eligibility guidelines for homeowners under Minnesota Statutes section 290A.04, subdivision 2.",
      "modified": [
        "Adjusted the percentages of income paid by claimants and the maximum state refund allowed for various income ranges."
      ]
    },
    "citation": "290A.04",
    "subdivision": "subdivision 2"
  }
]

Sponsors