ST. PAUL, Minn. (AP) — Gov. Mark Dayton is proposing a property tax rebate of up to $500 for every Minnesota homeowner.
Dayton says Tuesday as he unveils a budget proposal that Minnesota government relies too much on funding from property taxes. He says it's the state's least fair tax because it must be paid regardless of homeowner's income.
His plan would give every homeowner, including farmers, a rebate of up to $500 starting with their 2013 bill, depending on their income. It also restores full funding of a property tax credit for renters.
The proposed sales tax rebate is a piece of a larger overhaul of state taxes that includes an income tax increase on top earners, and a lowering of the state sales tax while widening it to include more purchases.
Copyright 2013 The Associated Press.