Minnesota Legislature
HF 3118
as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/02/2006 |
Current Version - as introduced
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A bill for an act
relating to taxation; changing the requirements for a homeowner to qualify for
the senior property tax deferral program; amending Minnesota Statutes 2004,
section 290B.03, subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2004, section 290B.03, subdivision 1, is amended to read:
Subdivision 1.
Program qualifications.
The qualifications for the senior citizens'
property tax deferral program are as follows:
(1) the property must be owned and occupied as a homestead by a person 65 years
of age or older. In the case of a married couple, deleted text begin both deleted text end new text begin at least one new text end of the spouses must
be at least 65 years old at the time the first property tax deferral is granted, regardless
of whether the property is titled in the name of one spouse or both spouses, or titled in
another way that permits the property to have homestead statusnew text begin , and the other spouse
must be at least 62 years of agenew text end ;
(2) the total household income of the qualifying homeowners, as defined in section
290A.03, subdivision 5, for the calendar year preceding the year of the initial application
may not exceed $60,000;
(3) the homestead must have been owned and occupied as the homestead of at
least one of the qualifying homeowners for at least 15 years prior to the year the initial
application is filed;
(4) there are no state or federal tax liens or judgment liens on the homesteaded
property;
(5) there are no mortgages or other liens on the property that secure future advances,
except for those subject to credit limits that result in compliance with clause (6); and
(6) the total unpaid balances of debts secured by mortgages and other liens on the
property, including unpaid and delinquent special assessments and interest and any
delinquent property taxes, penalties, and interest, but not including property taxes payable
during the year, does not exceed 75 percent of the assessor's estimated market value for
the year.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for new applications filed on or
after July 1, 2006.
new text end