MN HF700

Reduces the property tax increase threshold for eligibility from 12 percent to 10 percent for homeowners to qualify for an additional property tax refund.

Increases the maximum refund allowed under the additional property tax refund provision from $1,000 to $2,000.

Maintains the 60 percent refund rate on property tax increases over the 10 percent threshold or $100, whichever is greater.

Effective for refund claims based on taxes payable in 2024 and thereafter.