Form Cr-Scd - Property Tax Deferral For Senior Citizens Page 2
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1
2From CR-SCD Instructions
About this program
When to apply
How this program affects
This program allows people 65 or older
You must apply by July 1 in order for
refunds and rebates
to defer a portion of their homestead
your taxes to be deferred the follow-
You can apply for property tax refunds
property taxes. The deferral begins with
ing year. You may apply in the year in
or rebates based on the qualifying
real estate taxes payable the year after
which you turn 65. Once enrolled in the
amount on your property tax statement.
you make the initial application.
program, you don’t need to reapply.
You will not, however, receive property
Participation in this program is vol-
tax refunds or rebates as cash payments.
If your income changes or
untary.
You will also not receive Minnesota in-
you want to stop deferral
come tax refunds, political contribution
There are some important facts you
If your income exceeds $60,000 in a cal-
refunds or lottery winnings of any type.
should know before you apply.
endar year, you must notify us in writ-
Instead, these refunds will be applied to
• This is a loan from the state to you.
ing by July 1 of the following year. You
reduce your deferred property tax total.
The deferred tax is paid by the state to
won’t be able to defer additional taxes
We’ll notify you whenever we use a re-
your county.
until your income drops to $60,000 or
fund to reduce the amount of deferred
less, at which time you’ll need to send
• Interest will be charged on the loan.
tax. If your refund exceeds the deferred
a written request to resume deferral. If
The interest rate will be adjusted an-
amount, we’ll send you a check for the
you want to voluntarily stop deferral,
nually but will never exceed 5 percent.
difference.
you must also send us a written notice.
• A lien will attach to the property.
Send notice to:
How we use information
• The county will send you a notice
Minnesota Revenue
each year showing the current year’s
Some of the information on this appli-
Mail Station 4108
deferred taxes, the total cumulative
cation is private data. We use the infor-
St. Paul, MN 55146-4108
deferred taxes and accrued interest.
mation to determine your eligibility. To
This information becomes public
verify information, we may share it with
Paying back the tax
data.
the county assessor, the county attor-
Your participation in the program will
ney, and federal, state or local taxing au-
• The amount of property tax you
end when any one of the following oc-
thorities. You’re not required to provide
pay each year will be based on your
curs:
income the year before you enter the
the information we ask for; however, if
you don’t, you won’t be considered for
program.
• The property is sold or transferred.
the program.
• All qualifying homeowners die.
Who qualifies
• You notify the department in writing
Penalties
To qualify, you must meet all of the fol-
to stop deferral.
You’ll be charged a penalty equal to
lowing requirements:
• The property no longer qualifies as a
20 percent of the deferred tax if the in-
1. You must be 65 or older and own
homestead.
formation on your application, property
and occupy the property as a home-
certificate or abstract report is false; or
When any of these happen, the deferred
stead. If you’re married, your spouse
if you don’t notify us that your income
taxes plus interest must be paid back to
must be at least 62 when the first
exceeds program limits. If you inten-
the state. If the property is sold or the
deferral is granted.
tionally give us false information on any
homeowner dies, payment is due within
2. Your total household income cannot
of the above, the penalty increases to 50
90 days. If you voluntarily stop deferral
exceed $60,000 in the calendar year
percent of the deferred tax.
or the property no longer qualifies as a
prior to the year you apply.
homestead, you’ll have one year to pay
Questions?
3. At least one of the homeowners must
back the amount.
have owned and occupied the prop-
If you need help completing this appli-
If you pay back the tax within the above
erty as their homestead for at least 15
cation, call (651) 556-4803.
time frames, you will not be charged
years prior to the year of application.
TTY: Call 711 for Minnesota Relay.
additional interest. The county will
4. There can be no state or federal tax
We’ll provide this information in other
record a notice of termination and send
liens or judgment liens on the prop-
formats upon request to persons with
a copy to you. You must pay any record-
erty.
ing or filing fees.
disabilities.
5. Total debts secured by mortgages
If you don’t pay back the tax on time,
and other liens against the property
penalty, interest, lien, forfeiture and
cannot exceed 75 percent of the
other rules for collecting property taxes
property’s estimated market value.
will apply.
Homeowners with a reverse mortgage
do not qualify to participate in this
program.
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