PROPERTY TAXES: House, Senate leaders agree on surplus relief - KMSP-TV

PROPERTY TAXES: House, Senate leaders agree on surplus relief

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ST. PAUL, Minn. (KMSP) -

Many Minnesotans could get a check back from the state now that lawmakers in the House and Senate have come to an agreement that surplus funds should be returned via property tax relief.

"Hundreds of thousands of Minnesotans receive those checks, but we've super-sized them this year," House Tax Chair Ann Lenczewski said.

WHAT IT MEANS FOR HOMEOWNERS

Half a million Minnesota homeowners will see a one-time, 3-percent increase applied this year to the homestead credit refunds.

The average refund check is estimated at $837.

WHAT IT MEANS FOR RENTERS

Those who rent will see a one-time, 6-percent increase in the renters credit refund.

An estimated 350,000 renters would see an average refund of $643.

WHAT IT MEANS FOR FARMERS

About 90,000 farmers will also get a piece of the refund pie with a new check of their own.

Homestead farms will see an average refund of $410.

DAYTON TO SIGN THE BILL

Republicans are on board with the deal because they say when there's a surplus, that money should go back to the taxpayers -- but the bill has yet to be drafted and proofed.

A conference committee will take up that task on Monday, and Gov. Mark Dayton has already pledged his support for the measure.

"Overall, I think it's a good bill, but I'm disappointed the child and dependent care tax credit for working families is not part of the bill," Dayton admitted. "But, the two bills that the Legislature has passed have been over $500 million of tax cuts for middle class Minnesotans and their families, and I think that's a very good job."

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