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Think your property taxes are too high and disproportionate to your income? Increasing dramatically from year to year? The State of Minnesota may agree with you.
State property tax refund programs promise citizens of a certain income level a sizable refund if they meet a few simple requirements and file promptly.
Minnesota has two property tax refund programs for homeowners: the regular property tax refund and the special property tax refund. You may be eligible for one or both.
REGULAR PROPERTY TAX REFUND GUIDELINES
You must have owned and resided in your home on January 2, 2006. This home must already be your designated "homestead" or be "homesteaded" by December 15, 2006.
You may be eligible if your household income is less than:
-$87,780 for a home with no dependents.
-$106,980 for homes with dependents.
-$110,180 for homes owned by seniors or persons with handicaps, with dependents.
The maximum refund is $1,640.
SPECIAL PROPERTY TAX REFUND GUIDELINES
You must have owned and resided in your home on both January 2, 2005 and January 2, 2006. There is no limit on household income in this program.
You may be eligible if:
-the net property tax on your homestead increased by more than 12% from 2005 to 2006.
-the increase was $100 or more.
The maximum refund in the special program is $1,000.
To apply for either or both of these programs, you must use form M1PR, "Minnesota Property Tax Refund." The form, along with an instructional booklet, is available online at: http://www.taxes.state.mn.us
Those who file online may receive their refunds more quickly than those completing paper forms.
The filing due date for both programs is August 15, 2006.
Both programs also offer refunds for renters, mobile home owners and nursing home residents who meet certain qualifications.
Contact your accountant or the Winona County Treasurer's office with questions. Both of these locations should have paper copies of the M1PR form and its accompanying booklet.
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