Property tax bill lands approval; Senate Tax Committee votes to spend even more on overhaul.(NEWS)

Star Tribune (Minneapolis, MN) | April 18, 1997| | Copyright

A bill that would give $1.9 billion of property tax relief over three years and create a new business tax easily cleared the Senate Tax Committee on Thursday.

Most homeowners would benefit significantly from the measure, which uses part of the state's projected $2.3 billion surplus to lower school property taxes by $400 million a year.

Eligibility for a state property tax rebate program called the "circuit breaker" would expand from $67,000 of household income to $80,000. The rebates also would grow, to $1,500 from the current $470. To do that, funding for ...

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