MN HF3384

Increases maximum household income limit for the senior citizens' property tax deferral program from $60,000 to $96,000 for initial applicants.

Reduces the required homestead ownership period from 15 years to 5 years prior to filing an initial application.

Maintains existing requirements that at least one spouse must be age 65 or older and the other spouse must be at least 62 years old for married couples.

Retains restrictions on state or federal tax liens, judgment liens, and limits total debt secured by mortgages and liens to 75 percent of the assessor's estimated market value.

Applies to applications for deferral of taxes payable in 2023 and thereafter.