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Bill would create property tax credit for homesteads in South St. Paul; sponsor says modest relief for taxpayers and school district
Summary
Senate File 199 would create a property tax credit for residential homesteads in South St. Paul equal to 70% of taxes attributable to repayment of capital improvement bonds; sponsor said the credit would provide modest annual relief to homeowners and more significant aid to the local school district.
Senate File 199, presented to the Senate Taxes Committee, would establish a property tax credit limited to homestead property located inside the city of South St. Paul and tied to capital improvement bond repayment.
“Only homestead properties in the city of South St. Paul would qualify,” Senator Klein told the committee, describing the measure as targeted relief for a city with a relatively low property tax capacity. Klein said the…
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