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Dem Lawmakers Want To Bring Back Minn. Tax Credit

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(credit: CBS)

(credit: CBS)

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ST. PAUL, Minn. (AP) — Two Democratic state lawmakers say the elimination of a homestead tax credit as part of Minnesota’s deficit fix will hurt property tax payers.

Reps. Ann Lenczewski and Paul Marquart vowed Tuesday to introduce legislation next year to reinstate the homestead market value credit. They didn’t say how they cover the cost of bringing it back.

They blame majority Republicans for eliminating the credit, even as they seek GOP support to revive it.

Lenczewski says property tax payers and local governments are losing out so the state can save more than $500 million over two years.

Democratic Gov. Mark Dayton signed the budget bill eliminating the tax credit for homes valued under $414,000, or about 95 percent of Minnesota homeowners.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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