Monday, May 5, 2008

House Offers Property Tax Refund Bill

The Minnesota House has passed a property tax refund bill that would give taxpayers some money back if their property taxes have risen more than 12% in the past year. The amount of money a taxpayer would received would depend on how much money they make each year. For example, a household making $50,000 a year would get roughly half of the increased amount back up to a maximum of $2,500. The refund program would phase out over the next five years. The bill now goes to a conference committee.

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