Laserfiche WebLink
J <br /> <br />The homestead tax credit is limited to the homestead credit gross tax ]ess all other <br />credits. The maximum credit is $325 ($650 X 1/2). <br /> <br />The qualifying tax amount for the Minnesota Property Tax Refund (Line 1, 1982 <br />Property Tax Statement) is the total homestead credit gross tax on the 240 acres <br />most contiguous to or surrounding the dwelling, if that tax is less than the <br />homestead credit gross tax, less all other credits other than the homestead credit <br />on the first 240 acres. <br /> <br />The qualifying tax amount for the Special Property Tax Refund (Line 3, 1982 <br />Property Tax Statement) is the gross tax less al1 other credits on the acreage used <br />in #4 above. <br /> <br />The homestead credit gross tax will be less than the gross tax if the payable 1982 <br />total levy of the city, town, special taxing district(s) or county exceeds its payable <br />1981 total levy by more than the 1980 to 1981 percentage increase in the number <br />of homesteads plus 8 percent. The other credits are: <br /> <br />(1) State School Agricultural Credit <br />(2) Power Line Credit <br />(3) Wetlands Credit <br />(4) Native Prairie Credit <br />(5) Title II / Class 3CC Reduced Assessment Credit <br />(6) Taconite Tax / Supplementary Homestead Credit <br /> <br />-4- <br /> <br /> <br />