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Senior Citizens Property Tax
Deferral Program
You
may be able to defer a portion of the property tax on your homestead if
you are a qualifying senior citizen.
To be eligible, you must be at least 65 years old, with a
household income of $60,000 or less, and have lived in your home for a
least 15 years.
Senior citizens that participate in this program will only have
to pay a property tax equal to 3 percent of their net income.
The remaining tax will be paid as a low interest loan by the
State of Minnesota.
The unpaid tax, along with accumulated interest, will become a
lien on the property.
This lien must be satisfied or paid off upon the sale of the
property.
Participants who apply for property tax refunds will not receive
the refunds as cash payments.
Instead, the refunds will be applied to the deferred property
tax total.
To receive a fact sheet and application, please call the
Minnesota Department of Revenue: 651-296-0335 or 800-652-9094,
extension 6-0335. The fact sheet and application are also
available for download from the
Minnesota
Department of Revenue.
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