Is the Senior Citizen Property Tax Deferral right for me?

Before you consider applying for the Deferral Program you should be sure that you are taking advantage of the MN Property Tax Refund. The MN Property Tax Refund is the first step in reducing your property taxes.

If you are receiving the MN Property Tax Refund and want to further reduce your property tax burden, the Deferral Program may help you.

 Senior Citizen Property Tax Deferral Program benefits are: 

• Predictable—No matter how much property taxes increase, you will always pay the same fixed amount. 

• Affordable—The interest rate on the loan will never exceed 5 percent. There are no origination fees and application fees are minimal.

  
Consideration:

Knowing how much you will defer is an important part of understanding if the Deferral Program is right for you.

If you file for the MN Property Tax Refund and do not receive a significant refund from your MN income taxes, each year you’ll be able to defer:

 

Property Tax	Deferred Amount Ranges
1,500	0-100
2,000	100-300
2,500	300-600
3,000	800-1000
3,500	750-1100
4,000	1750-2100

*Based on 2006 MN Property Tax Refund information; assumes no dependents.
*Does not factor in MN income tax refund, political contribution refunds or lottery winnings.

How are these estimates calculated?

  
FAQ's

What if I do receive a significant MN Income tax refund?

What fees are involved in applying?

What is the MN Property Tax Refund?