Renters – TAX REFUND? YES!

Renters – are you eligible for some money back? Landlord’s don’t forget to fill out the CRP!

Federal and State tax returns are due in less than a month, but they aren’t the only returns you should be thinking about. If you are a renter, you may be eligible for an additional property tax refund based on household income and taxes paid on that principal residence. The refund is subject to certain eligibility requirements, as explained here by the Minnesota Department of Revenue:

http://www.taxes.state.mn.us/prop_refund/refund_information/content/renters_refund.shtml

You’ll need the Certificate of Rent Paid (CRP) issued by your landlord, which shows the amount of rent you paid and the property taxes your unit is considered to have covered, to calculate this refund. The proper refund form is M1PR, and can be found here:

http://www.taxes.state.mn.us/taxes/prop_refund/forms.shtml

The refund form can be filed electronically for a fee or via mail. Property tax returns are due on August 16, 2010, but may be filed up to a year after the due date. This means that returns for 2009 may be filed until August 15, 2011.

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