Monday, February 24, 2014

Crow Wing County Residents Property Tax Refund Requirements


Crow Wing County residents you will want to take advantage of the Homestead Credit Refund that homeowners are eligible for, and the Renter’s Property Tax Refund that those that rent are eligible for.  To qualify for these refunds you must be a full- or part-year resident of the state of Minnesota during the period of time that the taxes are paid. Another stipulation of the refund is that you cannot be claimed as a dependent by any other taxpayer. The refund is also based on income eligibility, and the amount paid on the property taxes on your primary residence in Minnesota.

If you are a homeowner you may be eligible for one or both of the property tax credit refunds if you meet the requirements of living and owning your Minnesota home on January 2nd, 2013.

Here are some additional requirements:

Special Homestead Credit Refund:  To qualify for this credit there are no income limits, but the net property tax on the homestead property must have increased by more than 12 percent from 2013 to 2014. The increase in property tax must also be at least $100. The largest refund available for this tax credit refund is $1000.

Regular Homestead Credit Refund:  To qualify for this tax credit refund your income for the year 2013 must have been less than $105,500. The largest allowable refund is $2,580.

Your home needs to be classified as a homestead in order to qualify. If your property is classified as a “relative homestead” then you would not qualify.

If you were renting a property in Minnesota in 2013 and your income was less than $57,170 than you may qualify. The maximum refund amount is $2000. You also must have lived in a building that was subject to property taxes, or “payments in lieu of taxes.”  Inquire with your landlord if you are unsure of the status of the building.

You must complete the M1PR form if you want to file this property tax refund, and it is due by August 15th.  You will also need to have your 2014 property tax statement which will be mailed out at the end of March.

Learn more about this property tax refund here. If you are looking to buy or sell a  home in Crow Wing County this autumn, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.


Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156