Governor Dayton details 2013 budget planSt. Paul, MN (WDAY TV) - Many Minnesota homeowners would get a property tax rebate under Governor Dayton's newest budget proposal.
By: WDAY Staff Reports, WDAY Staff Reports, WDAY
St. Paul, MN (WDAY TV) - Many Minnesota homeowners would get a property tax rebate under Governor Dayton's newest budget proposal.
Homeowners with income under $250,000 would get a $500 rebate from the state.
Clothing costing more than $100 would now be subject to sales tax, but the overall sales tax rate would drop to 5.5%. Higher Education would get an extra $160 million.
Dayton plans to pay for the budget increases with higher taxes on the wealthiest 2% of Minnesotans. Some businesses would also see a tax reduction.
Governor Mark Dayton – (D) Minnesota: “Under my proposal Minnesota businesses would receive both temporary and permanent property tax relief as well as a reduction in the state corporate income tax rate from 9.8% to 8.4%.”
The overall cost of the 2 year budget is $38 billion.