NEWS RELEASE
Rep. Nathan Coulter
Minnesota House of Representatives
District 51B – 651-296-4218 – rep.nathan.coulter@house.mn.gov
569 State Office Building, St. Paul, MN 55155
FOR IMMEDIATE RELEASE
CONTACT: Marlee Schlegel
651-296-9873 or marlee.schlegel@house.mn.gov
April 27, 2023
Rep. Nathan Coulter Supports Largest Tax Cut in Minnesota History
Saint Paul, MN. – Today, the Minnesota House of Representatives passed HF 1938, the 2023 House Tax Bill. Collectively, the bill delivers the largest tax cut in state history with credits, rebates, and other provisions designed to maximize benefits for workers, families, and seniors. It also addresses years of rising property taxes and underinvestment in local communities. These critically needed provisions are paid for through the state’s historic surplus and new revenue from both multinational corporations and the very wealthiest in the state.
Rep. Nathan Coulter (DFL – Bloomington) authored a portion of the Tax bill to simplify and expand the Renters’ Tax Credit. The bill would convert the credit into a refundable income tax credit, so eligible taxpayers can automatically receive the credit with their tax return, rather than as a separate payment months later. The bill would also expand eligibility, allowing more than 150,000 Minnesotans who currently don’t qualify to benefit to claim it. This provision will send an additional $378 million back to renters over the next two years.
“Our Tax bill will bring the largest tax cut in Minnesota history, and families need it now more than ever,” said Rep. Coulter. “I’m especially excited about the change in the Renters’ Tax Credit. Right now, when Minnesotans file for their renter’s credit, they don't receive their refund until late summer. By converting this credit into a refundable income tax credit, we’ll cut the waiting time and make tax season a little brighter for Minnesotans by sending the credit to them alongside the rest of their refund.”
The House DFL’s Tax bill delivers $648 million of property tax cuts and direct assistance to local communities. It also includes expansion of the Homestead Credit Refund, targeting an additional $41 million of assistance over the biennium to homeowners who will benefit the most. It also contains an additional $100 million for Local Government Aid and $100 million for County Program Aid to help local communities deliver critical public services while keeping property taxes in check.
In response to the housing market changes over the past few years, homeowners have seen an increase in property taxes. The bill provides a one-time property tax rebate expansion for both homeowners and renters, with 566,000 homeowners receiving an average of $163. For those who have seen large spikes in their property tax bill, additional assistance will be available.
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