Monday, March 3, 2008

TAX RELIEF FOR SEASONAL CABIN OWNERS, SENIOR CITIZENS

Republican lawmaker Ron Erhardt has introduced a bill in the Minnesota House that would grant property tax refunds to those who own cabins, summer homes or hunting shacks. The maximum refund would be $1,800. The owner couldn't make more then $96,300 to qualify.

Another bill introduced would freeze the estimated value of a home once the owner turns 65 thereby locking the property tax at the same rate until the house is sold. A similar bill would freeze property taxes for homeowners over 65 but only if they've lived in the house for more than 25 years and make less than $60,000 a year. The bills may be included in the House omnibus tax bill.

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1 Comments:

At March 26, 2008 at 12:09 PM , Blogger Nocatster said...

Land owners should read article this article from Naterraland To Think About the tax implications first before developing your land.

 

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