Are there any property tax deferral programs available for Senior Citizens?

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Are there any property tax deferral programs available for Senior Citizens?

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The State administers the Senior Citizens Property Tax Deferral program. 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 at least 15 years. If you qualify, your taxes cannot exceed 3% of your net income. The State of Minnesota will pay any remaining tax as a low interest loan. The unpaid tax along with accumulated interest will become a lien on the property. This lien must be satisfied upon sale of the property. All property tax refunds or rebates applied for by participants will be applied to the deferred property tax total. Forms and instructions are available from the State of Minnesota at: http://www.taxes.state.mn.us/taxes/property/index.shtml or by calling 651-296-0335 or 1-800-652-9094, ext. 6-0335.

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