MN HF4119

Reduces co-pay percentages for renters credits by approximately 5 percentage points across all income brackets (e.g., from 10% to 5%, from 15% to 10%), allowing renters to keep more of their refund

Increases maximum renter credit amounts by approximately $110-$140 depending on income level (e.g., from $2,640 to $2,780 for lowest income bracket)

Reduces co-pay percentages for homeowner property tax refunds by 5 percentage points across all income brackets (e.g., from 12% to 7%, from 17% to 12%)

Increases maximum homeowner refund amounts by approximately $70-$270 depending on income level (e.g., from $3,310 to $3,580 for many brackets)

Raises income eligibility thresholds for both programs: renters qualify with household income up to $79,330 (up from $75,389) and homeowners up to $146,340 (up from $135,410), effective for taxable years beginning after December 31, 2025 for renters and property taxes payable in 2027 for homeowners