MN Property Tax Returns Due August 15th
I hope everyone is having a great summer! We would like to remind all of our Minnesota clients that the MN Property Tax Refund Return needs to be filed by August 15th. Individual homeowners and renters are eligible for the Property Tax Refund. You qualify if your income is below a certain amount and you paid rent or property taxes in 2007. You also may qualify if your property taxes increased by 12% or more from 2007 to 2008. If you think you might qualify, please contact us and we can determine if you are eligible for a refund or not. We have filed them for a lot of you already and you should be receiving a copy of the return in the mail from us, if you haven't already.
Enjoy this months newsletter!
The Senate has passed a housing rescue plan by a vote of 72-13 aimed at stemming the tide of foreclosures and shoring up Fannie Mae and Freddie Mac.
Senate passage of the bill comes only a few days after the House passed similar legislation (see House Approves Mortgage Rescue Plan). The bill contains various tax provisions that have received a mixed reaction. "Some homebuyers and current homeowners stand to benefit from the bill, but others will help pay for it with higher taxes down the line," predicted CCH principal tax analyst Mark