For the first time in 12 years, Minnesota property taxes will go down. Why? A dramatic change in leadership and attitude at the state level. For over a decade under Republican leadership, Minnesota faced a rollercoaster of budget deficits, “no-new-taxes” pledges, and budgets balanced on the backs of working Minnesotans. That included eliminated the homestead property tax credit and the renter’s property tax refund – both of which provided needed tax relief for middle class families.
Luckily, our progressive leaders revamped the homestead property tax credit and increased funding for the renter’s refund. This means that the typical homeowner in East Grand Forks will see a 21 percent property tax reduction in 2014. In Bemidji and Detroit Lakes, it’s 19 percent. These are just a few examples.
Property taxes are not based on people’s ability to pay, which means they hit seniors and low-income Minnesotans they hardest, which is why property tax relief is so important.
Homeowners and renters have until August 15 to file for the homestead property tax credit and the renter’s refund and the forms can be downloaded and filed online at the Department of Revenue website, and you can also get paper copies at most local libraries.