Half million households in MN to expect increased property tax refunds in 2013. Will yours be one?

According to 2013 Tax Bill Improves Property Tax Refunds for Renters and Homeowners, the 2013 tax bill increases maximum refunds and lowers the threshold for qualifying for a property tax refund. The result:

  • More than 79,000 renting households will see an average $152 increase in their Renters’ Credit refunds.
  • More than 309,000 homeowning households will receive an average $221 increase in their refunds.
  • Another 30,000 renting households and 112,000 homeowning households are now eligible for a property tax refund

From the Minnesota Budget Bites blog.

In other words, if you usually get a property tax refund, you might see a modest increase in your refund.

If you didn’t qualify for a property tax refund last year, you should look at the qualification guidelines this year as you might be newly eligible. You can also talk with a tax preparation professional for more assistance.

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