Don't Let Uncle Sam Have your Money

Is Uncle Sam trying to keep your money?

Since April 15 just recently passed, many people probably haven't thought about filling out another tax-related form, but I want to remind area homeowners and renters about the property tax refund program’s that many states have and encourage them to apply.

If you own your home, there are two property tax refund programs available: the regular property tax refund applies if your household income is less than $93,480. Income limits increase to $113,880 with family size. The special property tax refund is available if your property taxes have increased more than 12 percent and by at least $100 over last year. There is no income limit for this refund program.To qualify as a renter, you must have made less then $50,430 in 2007 and income limits increase to $70,830 with family size.

For anyone eligible (or those wanting to check if they are eligible) for a property tax refund, log onto the Department of Revenue's website at: http://www.taxes.state.(enter/ your 2 letter state abbreviation).us and click on Property Tax Refund form. The directions are listed on the form, which can be either mailed to the Department or e-mailed for a quick response. We have our taxes done through H&R block and they have never mentioned this additional rebate to us. So yesterday I went online, filled out some forms and am now expecting $71 in September. In 2006, 510,000 homeowners in Minnesota alone received refunds and 280,000 renters.

Refunds on the regular property tax refunds averaged $620 and $85 on the special property tax refund. For renters, the average refund was $540. It does not matter if you are self-employed, unemployed, disabled or work 4 jobs0you could be eligible for the refund. Be sure to have your 2007 tax forms handy because you will need to refer to some of the numbers but all in all, for about 20 minutes work it can be pretty quick money!

David Carroll
President
The Home Business Company
Helping People Find Peace and Prosperity
952-544-0117-Office
612-802-8487-Mobile
http://TheHomeBusinessCompany.blogspot.com