Sign your org on: Expand the Renters' Credit & provide a boost for Minnesotan renters
All Minnesotans want safe, affordable homes for themselves and their families. But some Minnesotans earning lower wages or on fixed incomes struggle to afford both the cost of housing and other basic necessities.
Right now, state policymakers have an opportunity to help bring down the cost of housing through an expansion of the Renters' Credit, which is an income-targeted property tax refund.
By expanding this credit, state leaders would provide a much-needed economic boost to Minnesotans living in every part of the state. In Greater Minnesota especially, the Renters' Credit is an important lifeline for seniors and people living with severe disabilities.
Add your organization’s name to this sign-on letter, urging policymakers to act boldly and expand the Renters' Credit for Minnesotan renters.
The letter below, including organizational signatories, will be shared with Governor Tim Walz and members of the Minnesota Legislature at key moments in this Legislative Session.
Learn more about this proposal on our website.
**Please note: If you are signing on behalf of multiple organizations, you will need to use a different email address with each entry.**
View the sign-on letter in this PDF, or below:
The undersigned organizations support taking bold action to respond to the challenges that workers, families, seniors, and people with disabilities face by simplifying and expanding the Renters’ Credit.
All Minnesotans want safe, affordable homes for themselves and their families. But some Minnesotans earning lower wages or on fixed incomes struggle to afford both the cost of housing and other basic necessities.
Property tax refunds like the Renters’ Credit help bring down one of the costs of housing. The Renters’ Credit is targeted based on income and prioritizes those for whom property taxes make up a larger share of their budget. It recognizes that renters pay property taxes through their rents. It benefits Minnesotans living in every part of the state, and in Greater Minnesota especially it is an important lifeline for seniors and people living with severe disabilities.
We support the transformational changes in the Renters’ Credit contained in House File 1653 and Senate File 45, and that were included in the 2022 tax agreement. This proposal makes two changes:
- First, it changes the Renters’ Credit into a refundable income tax credit. Currently, eligible renters apply for the Renters’ Credit through the Property Tax Refund application, due August 15. With this proposal, qualifying renters would apply for the Renters’ Credit as part of the income tax filing process.
- Second, it simplifies the definition of income for qualifying for and calculating the Renters’ Credit. It would base the credit on Adjusted Gross Income (AGI), like many other tax credits and provisions of our tax law, rather than the broader and more complicated “household income” that is currently used.
This expansion would have several high-impact outcomes, including:
- Reducing barriers so that more currently eligible renters receive the property tax refund they qualify for – an estimated 119,000 renting households;
- Simplifying the process to apply for and calculate the credit;
- Providing larger property tax refunds for about half of currently eligible renters and making 36,000 more renters eligible;
- Getting refunds out to renters much sooner; and
- Maintaining the sliding-scale structure of the Renters’ Credit that prioritizes those with the lowest incomes and folks whose property taxes are particularly high in relation to their incomes.
This Renters’ Credit expansion would provide a needed economic boost to Minnesota renters struggling with the rising cost of housing.
It would also benefit our economy when Minnesotans spend their tax refunds in their local communities on some of the most basic expenses, whether that be toothpaste, dental care or other health care expenses not covered by insurance, or essential purchases for their children.
Thank you for your consideration of the role an expanded Renters’ Credit can play in building broader economic security and a fairer tax system.
Sign your organization onto this letter using the form featured here! Have questions or concerns? Contact Meghan Marriott, Engagement Manager with the Minnesota Budget Project: mmarriott@mnbudgetproject.org.