MN SF1957

Creates an advance homestead credit for seniors allowing eligible homeowners age 65+ (or couples where one spouse is 65+ and the other is 62+) to receive 50% of their previous year's homestead credit refund applied directly to their first-half property tax payment

Eligible seniors must own homestead property, have received homestead treatment in the prior year, and attest they intend to continue occupying the same homestead

Commissioner of Revenue must certify credit amounts to county auditors by January 2; credits are applied to first-half property tax payments and cannot reduce the payment below $0

State general fund appropriations cover reimbursements to local taxing jurisdictions (paid October 31) and school districts for the tax reductions granted under the program

Claimants must file for the regular homestead credit refund and repay any advance credit amount that exceeds their actual refund eligibility; effective for property taxes payable in 2027 and thereafter