290B.01 PURPOSE. Minnesota’s system of ad valorem property taxation does not adequately recognize the unique financial circumstances of homestead property owned and occupied by low-income senior citizens. It is therefore declared to be in the public interest of this state to stabilize tax burdens on homestead property owned by qualifying low-income senior citizens through a […]
290B.02 CITATION. This program shall be named the “senior citizens’ property tax deferral program.” History: 1997 c 231 art 14 s 5
290B.03 DEFERRAL OF PROPERTY TAXES. Subdivision 1. Program qualifications. The qualifications for the senior citizens’ property tax deferral program are as follows: (1) the property must be owned and occupied as a homestead by a person 65 years of age or older. In the case of a married couple, at least one of the spouses […]
290B.04 APPLICATION FOR DEFERRAL. Subdivision 1. Initial application. (a) A taxpayer meeting the program qualifications under section 290B.03 may apply to the commissioner of revenue for the deferral of taxes. Applications are due on or before November 1 for deferral of any of the following year’s property taxes. A taxpayer may apply in the year […]
290B.05 MAXIMUM PROPERTY TAX AMOUNT AND DEFERRED PROPERTY TAX AMOUNT. Subdivision 1. Determination by commissioner. The commissioner shall determine each qualifying homeowner’s “annual maximum property tax amount” following approval of the homeowner’s initial application and following the receipt of a resumption of eligibility certification. The “annual maximum property tax amount” equals three percent of the […]
290B.06 REFUNDS; OFFSET. For purposes of qualifying for the regular property tax refund or the special refund for homeowners under chapter 290A, the qualifying tax is the full amount of taxes, including the deferred portion of the tax. In any year in which a program participant chooses to have property taxes deferred under this section, […]
290B.07 LIEN; DEFERRED PORTION. (a) Payment by the state to the county treasurer of property taxes, penalties, interest, or special assessments and interest deferred under this chapter is deemed a loan from the state to the program participant. The commissioner must compute the interest as provided in section 270C.40, subdivision 5, but not to exceed […]
290B.08 TERMINATION OF DEFERRAL; PAYMENT OF DEFERRED TAXES. Subdivision 1. Termination. (a) The deferral of taxes granted under this chapter terminates when one of the following occurs: (1) the property is sold or transferred; (2) the death of all qualifying homeowners; (3) the homeowner notifies the commissioner in writing that the homeowner desires to discontinue […]
290B.09 STATE REIMBURSEMENT. Subdivision 1. Determination; payment. The county auditor shall determine the total current year’s deferred amount of property tax under this chapter in the county, and report those amounts to the commissioner under section 270C.85, subdivision 2, clause (4). The commissioner may make changes as deemed necessary. The commissioner of revenue, after such […]
290B.10 SENIOR DEFERRAL PROGRAM; INFORMATION PROVIDED. The commissioner of revenue shall provide information about the senior deferral program and eligibility criteria for the program in the instruction booklet prepared for taxpayers to use in applying for property tax refunds under chapter 290A. History: 1998 c 389 art 5 s 16
290B.11 FORMS. The commissioner shall prescribe the content, format, and manner of all forms and other documents required to be filed under this chapter pursuant to section 270C.30. History: 1Sp2017 c 1 art 16 s 29
