MN HF3689

Amends Minnesota Statutes 2008, section 290A.04, subdivision 2 to modify the property tax refund schedule for homeowners, revising income thresholds and maximum refund amounts across multiple income brackets.

Establishes a tiered refund system where homeowners pay varying percentages of income (ranging from 1.0 to 3.5 percent) with state refunds capped at amounts ranging from $2,000 down to $370 depending on household income level.

Sets income eligibility ceiling at $58,500 household income or more, above which no refund payment is allowed.

Eliminates automatic inflation adjustment of income thresholds and maximum refunds under subdivision 2a, instead requiring manual annual adjustment by the commissioner based on Internal Revenue Code methodology.

Effective date for refund schedule changes is property taxes payable in 2011 and thereafter; inflation adjustment changes effective the day following final enactment.