HF 3866 Summary

• Increases maximum homeowners property tax refund from $3,560 to $3,560 (maintains current maximum) with expanded income eligibility up to $155,000 household income.

• Expands exemption amount for senior claimants and claimants with disabilities from 1.5 times to 1.5 times the exemption amount under section 290.0121.

• Raises income threshold for eligibility of property tax refunds, allowing higher-income households to qualify for refunds based on revised income brackets.

• Effective for claims based on rent paid in 2022 and property taxes payable in 2023 and following years.

• Requires annual inflation adjustments to income thresholds and maximum refunds by the commissioner using statutory year 2022 for homeowner refunds.