Tuesday, May 6, 2008

MN House Approves Property Tax Bill

After 8 hours of debate, Minnesota House Legislators approved a bill that would have state tax payers pick up more of the bill for some local property taxpayers. Royalton Lawmaker Al Doty said the bill would help 'grandpas and grandmas and young people buying their first house'. Grand Rapids Lawmaker Loren Solberg also voted for the bill. Homeowners whose property taxes take more than 2% of their household income would get a rebate on those taxes. This latest version of the bill does away with the property tax deduction on state income taxes so most homeowners would see their final tax bill rise. The bill now goes to a conference committee.

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