Are senior citizens taxes frozen?
The senior citizen tax freeze that existed in the mid-1970s was replaced by the property tax refund program. However, you may be able to defer a portion of the property tax on your homestead if you are a qualifying senior citizen. 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. Senior citizens that participate in this program will only have to pay a tax equal to 3 percent of their net income. The State of Minnesota will pay the 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 the sale of the property. Participants who apply for property tax refunds or rebates will not receive the refunds or rebates as cash payments. Instead, the refunds or rebates will be applied to the deferred property tax total. To receive a fact sheet and application, call 651-296-0335 or 1-800-652-9094, extension 6
