Home Ownership & Taxes

Whether you’re a new homeowner or are considering a future home purchase, as April 15 approaches you are probably thinking about taxes.

PRG’s staff are not tax experts, but here are some resources we share with clients who are considering the impact of home ownership on the taxes they pay, or who are seeking help filing:

How does home ownership affect the taxes I pay?

Freddie Mac has a calculator that estimates the effect of home ownership on your tax payment each year.

What if I need help filing my taxes?

AccountAbility Minnesota offers tax clinics that help you file your return. The clinics are available free of charge to individuals earning less than $30,000 per year, and families earning less than $50,000 per year. The Minnesota Department of Revenue lists similar clinics that are available with the same income guidelines, and are free for senior and disabled citizens regardless of income.

Tax Credits

Check out AccountAbility Minnesota’s list of tax credits for a rundown of credits you might be eligible for and how to apply. These credits—including the state Property Tax Refund—are relevant whether you own or rent your home.

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