MN SF4286

Lowers the threshold for Minnesota's targeting property tax refund from 12 percent to 6 percent, allowing homeowners to qualify when their property taxes increase more than 6 percent year-over-year (minimum $100 increase required)

Increases the maximum refund amount from $1,000 to $2,500

Refund equals 60 percent of the tax increase amount exceeding the greater of 6 percent of prior year's taxes or $100

Property must be owned and occupied by the same owner on January 2 of both years, and increases due to home improvements are excluded

Effective beginning with refunds based on property taxes payable in 2026