MN SF453

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

Reduces the minimum homestead ownership requirement 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.

Preserves qualification requirements prohibiting state or federal tax liens, judgment liens, and mortgages securing future advances on the property.

Effective for applications for deferral of taxes payable in 2024 and thereafter.