Targeting property tax refund expanded for taxes payable in 2026.

Summary

The bill revises the formula for Minnesota’s property tax refund for taxes due in 2026, lowering the refund rate from 12 percent to 8 percent. It applies only to refunds based on 2026 property taxes, affecting homeowners who would receive the refund. The adjustment is meant to reduce the amount of money returned to taxpayers for that year.

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