MN SF2766

Reduces the percentage of property taxes that homeowners must pay (co-pay) before receiving the homestead credit refund, with reductions of 5 percentage points across all income brackets (e.g., from 12% to 7%, from 17% to 12%, from 22% to 17%)

Increases the maximum state refund amount from $3,310 to $3,500 for households with income up to approximately $53,000, with similar increases for higher income brackets

Raises household income thresholds for eligibility by approximately 5-6%, with the maximum income limit increasing from $135,410 to $143,140

Updates the statutory base year for inflation adjustments from 2023 to 2025

Effective for property tax refunds based on taxes payable after December 31, 2025 (Section 1) and December 31, 2026 (Section 2 inflation adjustment)