[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-304782-105":53,"doc-detail-304782-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","renters-credit-2024","Renter’s Credit - 2024","","Renter’s Credit is a refundable income tax credit designed to provide tax relief to renters when rent and “implicit property taxes” are high relative to income. Beginning with refunds paid in 2025 for tax year 2024, claimants file and claim the credit within Minnesota income tax returns, using adjusted gross income for eligibility. Property owners must supply a Certificate of Rent Paid (CRP) by February 1, and the credit includes rules for thresholds, copay percentages, maximum refund caps, and income limits.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/renters-credit-2024/304782/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/renters-credit-2024/304782.png","ImageObject",442,249,{"name":88,"@type":89},"Theodore","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-27","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is the renter’s credit and who is it for?","Question",{"text":108,"@type":109},"Renter’s Credit is a refundable income tax credit for renters whose rent and “implicit property taxes” are high compared with their incomes.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is the credit calculated, including property taxes and thresholds?",{"text":113,"@type":109},"“Rent constituting property taxes” is assumed to be 17% of rent. If that amount exceeds a threshold percentage of income, the credit is calculated as a percentage of the tax over the threshold, subject to maximum limits.",{"name":115,"@type":106,"acceptedAnswer":116},"What is required to claim the credit and what are the filing rules starting in 2025?",{"text":117,"@type":109},"Property owners must provide a Certificate of Rent Paid (CRP) by February 1. Beginning with refunds payable in 2025 for tax year 2024, taxpayers claim the credit as part of their income tax return, and the state pays refunds alongside any income tax refunds owed.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},304782,1790219204,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":79,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":9},7971461740886,"https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","Renter’s Credit  \nJune 2024  \nWhat is the renter’s credit?  \nThe renter’s credit is a refundable income tax credit that provides tax relief to renters whose rent and“implicit property taxes” are high relative to their incomes. Prior to 2025, the credit was administered separate from the income tax system, together with the homestead credit property tax refund. Beginning with refunds paid in 2025 (tax year 2024), taxpayers will file and claim the credit as part of their income tax returns.  \nHow are renter’s property taxes calculated?  \n“Rent constituting property taxes” is assumed to equal 17 percent of rent paid. If rent constituting property taxes exceeds a threshold percentage of income, the credit equals a percentage of the tax over the threshold, up to a maximum amount. As income increases:  \n􀂃 the threshold percentage increases,  \n􀂃 the share of tax over the threshold that the taxpayer must pay increases, and  \n􀂃 the maximum refund decreases.  \nBeginning with credits paid in 2025, the program will use adjusted gross income to determine eligibility, with deductions allowed for dependents and for claimants who are over age 65 or disabled.  \nProperty owners or managing agents are required to provide renters with a Certificate of Rent Paid (CRP) by February 1 of each year. The CRP provides a record of the rent paid in the previous year.  \nWhat are the maximums?  \nFor tax year 2024 credit claims paid in 2025 (based on rent paid in 2024), the maximum refund is $2,640 . Renters whose income exceeds $75,389 are not eligible for refunds.  \nHow are claims filed?  \nBeginning with refunds payable in 2025 for tax year 2024, taxpayers will file and claim the credit as part of their income tax returns. The Minnesota Department of Revenue (DOR) will pay taxpayers refunds atthe same time as any income tax refunds owed to a taxpayer.  \nHow many renters receive refunds, and what is the total amount paid?  \n295,520 renters received refunds in 2022 (based on rent paid in 2021 and 2021 incomes) . The average refund was $731, and the total dollar amount of refunds paid statewide was $216.1 million.  \nWhen was the program last changed?  \nThe 2023 tax policy and finance bill ( Laws 2023, chapter 64) significantly restructured the program’s administration. That law converted the credit from a stand-alone refund program to a refundable income tax credit and also changed the income measure used to calculate the credit. Under prior law, the income measure used to calculate the credit was “household income,” which included most nontaxable income.  \nHow do refunds vary depending on income and property taxes?  \nThe following table shows the credit amount for four example families (married couples without dependents) . Although the threshold percentage, copayment rates, and maximum credit amounts are the same statewide, the estimated median rent (based on 2022 Census Bureau ACS 1-year estimates for 1 bedroom) is higher in the metro area than in Greater Minnesota. Taxpayers who are over age 65, disabled, or have dependents are allowed a subtraction from income in determining the refund.  \nMarried couple, both under age 65, no dependents Example credit for claims filed in 2025, based on rent paid in 2024 and 2024 household income  \n\n|  |  | Metro Area |  | Greater Minnesota |  |\n| --- | --- | --- | --- | --- | --- |\n|  |  | Taxpayer \\#1 | Taxpayer \\#2 | Taxpayer \\#3 | Taxpayer \\#4 |\n| 1 | Monthly rent, one bedroom apartment | $1,050 | $1,050 | $625 | $625 |\n| 2 | Annual rent (1 x 12 = 2) | $12,600 | $12,600 | $7,500 | $7,500 |\n| 3 | Rent constituting property tax (2 x 17% = 3) | $2,142 | $2,142 | $1,275 | $1,275 |\n| 4 | Gross income | $20,000 | $40,000 | $20,000 | $40,000 |\n| 5 | Deduction for dependents | 0 | 0 | 0 | 0 |\n| 6 | Household income (4-5 = 6) | $20,000 | $40,000 | $20,000 | $40,000 |\n| 7 | Statutory threshold percentage | 1.4% | 2.0% | 1.4% | 2.0% |\n| 8 | Threshold % x income (7 x 6 = 8) | $280 | $800 | $280 | $800 |\n| 9 | Property tax over th","cbCaicM2P1UbYphY","https://ap.wps.com/l/cbCaicM2P1UbYphY","pdf",246945,"English","# What is the renter’s credit?\n# How are renter’s property taxes calculated?\n# What are the maximums?\n# How are claims filed?\n# How many renters receive refunds, and what is the total amount paid?\n# When was the program last changed?\n# How do refunds vary depending on income and property taxes?","[{\"question\":\"What is the renter’s credit and who is it for?\",\"answer\":\"Renter’s Credit is a refundable income tax credit for renters whose rent and “implicit property taxes” are high compared with their incomes.\"},{\"question\":\"How is the credit calculated, including property taxes and thresholds?\",\"answer\":\"“Rent constituting property taxes” is assumed to be 17% of rent. If that amount exceeds a threshold percentage of income, the credit is calculated as a percentage of the tax over the threshold, subject to maximum limits.\"},{\"question\":\"What is required to claim the credit and what are the filing rules starting in 2025?\",\"answer\":\"Property owners must provide a Certificate of Rent Paid (CRP) by February 1. Beginning with refunds payable in 2025 for tax year 2024, taxpayers claim the credit as part of their income tax return, and the state pays refunds alongside any income tax refunds owed.\"}]","Renter’s Credit - 2024 | PDF",1789817249]