Senior citizen property tax credit established, and money appropriated.

HF 826 establishes a property tax credit for Minnesota seniors to reduce their local property tax burden. It directly affects homeowners aged 65 or older (or married couples where one is 65+ and the other is 62+) who own and occupy their primary home as a homestead for at least five years, with household income under $75,000. The credit amount equals the property tax due after other credits minus 3% of the applicant's prior year household income, but cannot be less than $0. The state appropriates funds from the general fund to reimburse local governments and school districts for these tax reductions, effective for 2026 property tax bills.