Minnesota Renter's Credit new in 2025: Tax filing info to know
File photo of money. (Photo by Ozan KOSE / AFP) (Photo by OZAN KOSE/AFP via Getty Images) (Getty Images)
MINNEAPOLIS (FOX 9) - Minnesota renters who file for a property tax refund can now claim a new "Renter's Credit" on their tax returns in order to simplify filing, the Minnesota Department of Revenue announced Thursday.
What does this mean?
This tax season, renters who are eligible for a property tax refund will now claim Renter's Credit on their Minnesota individual income tax return.
This means that most renters who claim a property tax refund will not have to file a separate property tax refund return, and will not receive a separate property tax refund later in the year. Instead, to claim the Renter's Credit, renters will need to file a state income tax return, which is Form M1.
According to the Minnesota Department of Revenue, the Renter's Credit will be included in the renter's income tax refund amount, be applied to the amount owed on their income tax return, or be applied to other debts referred to the department of revenue.
How to claim the renter's credit
Renters will use the new Schedule M1RENT, the Renter's Credit, along with Schedule M1REF, the Refundable Credits, when they file with their individual income tax return to get the Renter's Credit.
A Certificate of Rent Paid, a document that can be received from your landlord, should be included when filing.
To learn more about the Renter's Credit, click here.
Does this change anything for homeowners?
The new credit doesn't change anything for homeowners, and will use the same form to file a property tax refund.
What they're saying
"Having the Renter’s Credit on the state income tax form will simplify filing for the around 300,000 renters who claim a property tax refund each year," said Revenue Commissioner Paul Marquart. "Renters will no longer have to file a separate return and wait until August or September to get their refund."