Minnesota Legislature
HF 2475
as introduced - 94th Legislature (2025 - 2026) Posted on 03/17/2025 03:00pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/17/2025 |
Current Version - as introduced
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A bill for an act
relating to taxation; property tax refunds; reducing homestead credit refund co-pays;
amending Minnesota Statutes 2024, section 290A.04, subdivisions 2, 4.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 290A.04, subdivision 2, is amended to read:
Subd. 2.
Homeowners; homestead credit refund.
A claimant whose property taxes
payable are in excess of the percentage of the household income stated below shall pay an
amount equal to the percent of income shown for the appropriate household income level
along with the percent to be paid by the claimant of the remaining amount of property taxes
payable. The state refund equals the amount of property taxes payable that remain, up to
the state refund amount shown below.
| Household Income |
Percent of Income |
Percent Paid by Claimant |
Maximum State Refund |
|
|
deleted text begin
$0 to 2,079 deleted text end new text begin $0 to 2,199 new text end |
1.0 percent |
deleted text begin
12 percent deleted text end new text begin 7 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
2,080 to 4,139 deleted text end new text begin 2,200 to 4,379 new text end |
1.1 percent |
deleted text begin
12 percent deleted text end new text begin 7 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
4,140 to 6,269 deleted text end new text begin 4,380 to 6,629 new text end |
1.2 percent |
deleted text begin
12 percent deleted text end new text begin 7 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
6,270 to 8,369 deleted text end new text begin 6,630 to 8,849 new text end |
1.3 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
8,370 to 10,439 deleted text end new text begin 8,850 to 11,039 new text end |
1.4 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
10,440 to 14,619 deleted text end new text begin 11,040 to 15,449 new text end |
1.5 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
14,620 to 16,689 deleted text end new text begin 15,450 to 17,639 new text end |
1.6 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
16,690 to 18,799 deleted text end new text begin 17,640 to 19,869 new text end |
1.7 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
18,800 to 20,879 deleted text end new text begin 19,870 to 22,069 new text end |
1.8 percent |
deleted text begin
17 percent deleted text end new text begin 12 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
20,880 to 22,949 deleted text end new text begin 22,070 to 24,259 new text end |
1.9 percent |
deleted text begin
22 percent deleted text end new text begin 17 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
22,950 to 29,239 deleted text end new text begin 24,260 to 30,909 new text end |
2.0 percent |
deleted text begin
22 percent deleted text end new text begin 17 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
29,240 to 31,319 deleted text end new text begin 30,910 to 33,109 new text end |
2.0 percent |
deleted text begin
27 percent deleted text end new text begin 22 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
31,320 to 35,509 deleted text end new text begin 33,110 to 37,539 new text end |
2.0 percent |
deleted text begin
27 percent deleted text end new text begin 22 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
35,510 to 50,099 deleted text end new text begin 37,540 to 52,959 new text end |
2.0 percent |
deleted text begin
32 percent deleted text end new text begin 27 percent new text end |
$ |
deleted text begin
3,310 deleted text end new text begin 3,500 new text end |
|
deleted text begin
50,100 to 73,059 deleted text end new text begin 52,960 to 77,229 new text end |
2.0 percent |
32 percent |
$ |
deleted text begin
2,680 deleted text end new text begin 2,830 new text end |
|
deleted text begin
73,060 to 83,499 deleted text end new text begin 77,230 to 88,259 new text end |
2.0 percent |
37 percent |
$ |
deleted text begin
2,350 deleted text end new text begin 2,480 new text end |
|
deleted text begin
83,500 to 93,939 deleted text end new text begin 88,260 to 99,299 new text end |
2.1 percent |
37 percent |
$ |
deleted text begin
1,940 deleted text end new text begin 2,050 new text end |
|
deleted text begin
93,940 to 104,379 deleted text end new text begin 99,300 to 110,339 new text end |
2.2 percent |
37 percent |
$ |
deleted text begin
1,740 deleted text end new text begin 1,840 new text end |
|
deleted text begin
104,380 to 114,819 deleted text end new text begin 110,340 to 121,369 new text end |
2.3 percent |
37 percent |
$ |
deleted text begin
1,520 deleted text end new text begin 1,610 new text end |
|
deleted text begin
114,820 to 121,089 deleted text end new text begin 121,370 to 127,999 new text end |
2.4 percent |
42 percent |
$ |
deleted text begin
1,280 deleted text end new text begin 1,350 new text end |
|
deleted text begin
121,090 to 125,289 deleted text end new text begin 128,000 to 132,439 new text end |
2.5 percent |
42 percent |
$ |
deleted text begin
1,070 deleted text end new text begin 1,130 new text end |
|
deleted text begin
125,290 to 130,349 deleted text end new text begin 132,440 to 137,789 new text end |
2.5 percent |
47 percent |
$ |
deleted text begin
870 deleted text end new text begin 920 new text end |
|
deleted text begin
130,350 to 135,409 deleted text end new text begin 137,790 to 143,139 new text end |
2.5 percent |
47 percent |
$ |
deleted text begin
650 deleted text end new text begin 690 new text end |
The payment made to a claimant shall be the amount of the state refund calculated under
this subdivision. No payment is allowed if the claimant's household income is deleted text begin $135,410deleted text end new text begin
$143,140new text end or more.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning with refunds based on property
taxes payable after December 31, 2025.
new text end
Sec. 2.
Minnesota Statutes 2024, section 290A.04, subdivision 4, is amended to read:
Subd. 4.
Inflation adjustment.
The commissioner shall annually adjust the dollar
amounts of the income thresholds and the maximum refunds under subdivision 2 as provided
in section 270C.22. The statutory year is deleted text begin 2023deleted text end new text begin 2025new text end .
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning with refunds based on property
taxes payable after December 31, 2026.
new text end