MN HF3671

Reduces rent constituting property taxes from 19 percent to 14 percent of gross rent paid in cash or equivalent, effective for claims based on rent paid in 2010 and thereafter.

Modifies the property tax refund schedule for renters by establishing new household income brackets and corresponding refund amounts, with maximum state refunds ranging from $1,520 down to $150 depending on income level, and eliminating payments for households with income of $44,100 or more.

Changes inflation adjustment methodology to use the percentage increase between June 30, 2000 and June 30 of the year preceding refund payment, and requires rounding thresholds and maximum amounts to the nearest $10 amount (rounding up if ending in $5).

Requires claimants to have owned and occupied the homestead on January 2 of the tax year and either have homestead classification on or before December 15 of the assessment year, or provide documentation that application for homestead classification was made and approved by the local assessor.