Assessing

Senior Citizen Property Tax Deferral

Are you a senior citizen concerned about your ability to pay your property taxes? If so, the State of Minnesota's Senior Citizens Property Tax Deferral program may be able to help. Under this program, qualifying seniors pay no more than three percent of their net income toward their tax bill and the state pays any remaining tax as a low interest loan. The unpaid tax along with accumulated interest then becomes a lien on the property. This lien must be satisfied when the property is sold. Participants who apply for property tax refunds or rebates do not receive the refunds or rebates as cash payments. Instead, the refunds or rebates are applied to the deferred property tax total.

To be eligible, you must be at least 65 years old, have a household income of $60,000 or less, and have lived in your home for at least 15 years. Forms and instructions are available from the State of Minnesota's web site, click here.