Property tax refund applications due soon

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The Minnesota Department of Revenue reminds Minnesotans to file applications for state property tax refunds and renter’s refunds by August 17, 2009.

Even taxpayers who didn’t qualify in previous years may be eligible for a refund.

These refunds provide tax relief to resident homeowners and renters whose property tax or rent is relatively high compared with their total household income. Taxpayers should complete Form M1PR to determine if they are eligible and, if so, the amount of their refund.

The department expects approximately 410,000 homeowners and 307,000 renters to qualify.

The average renter’s refund is $585, with a maximum of $1,490. The average homeowner’s refund is $695, with a maximum of $2,310.

Renters may qualify if their 2008 household income was less than $52,300.

For homeowners, the total household income must be less than $96,940, and they must have owned and used the property as their principal residence on January 2, 2009.

The special property tax refund provides tax relief to Minnesota resident homeowners whose property tax increased more than 12 percent and at least $100 from 2008 to 2009. There are no income limits, but filers must have owned and lived in their home on January 2 of both years.

Taxpayers should complete Schedule 1 of Form M1PR to determine if they are eligible and, if so, the amount of their refund.

The average refund is $75, with a maximum of $1,000. The department expects approximately 35,000 homeowners to qualify.

Taxpayers can apply for the property tax refund electronically for a small fee at the department’s website, http://www.taxes.state.mn.us. To file on paper, taxpayers can download Form M1PR and instructions at the website, or call (651) 296-4444 or 1-800-657-3676 to request copies.

Renters who filed by June 15, 2009, can expect refunds in mid-August; homeowners who filed by August 1 can expect refunds in late-September. It will take up to 60 days to receive a refund if an application was filed at a later date.

To check on the status of a property tax refund, go to http://www.taxes.state.mn.us or call (651) 296-4444 or 1-800-657-3676. Wait at least 60 days after filing before checking on the status of a refund.

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