This is not a tax forgiveness program.
The Senior Citizen Property Tax Deferral program ensures taxes don't exceed 3 percent of net income. The rest is paid by the state in the form of a low interest loan that becomes a lien on the property. At the time of sale or when the deferral is canceled, the loan plus interest must be paid.
Eligibility
To qualify, you must:
- Be 65 years old. If married, one spouse is 65 or older, and the other is at least 62.
- Have a household income of $96,000 or less.
- Have lived, owned and homesteaded your home for the last five years
Applying
This program is administered by the state . Applications are due by Nov. 1 to defer your property taxes for the following year.
Forms and instructions are available from the Minnesota Department of Revenue.