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Posted on: July 28, 2023

Property Tax Refund Changes from 2023 Tax Bill Legislation

Property Tax Refunds

The tax bill increases refund amounts for the 2022 Homestead Credit Refund (for Homeowners) and Renter's Property Tax Refund (Form M1PR):

  • Refunds for homeowners and renters were increased by 20.572%. Taxpayers who already filed a 2022 Form M1PR may see a larger refund than originally claimed.
  • Homeowners may now qualify for a special (or "targeting") refund if their property tax increased by more than 6% — rather than 12% — from 2022 to 2023. 

The income requirements have not changed for claiming either the Homestead Credit Refund or Renter's Property Tax Refund.

Tax Law Changes

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