Governor Dayton details 2013 budget plan

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.

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