The homestead credit refund is a state-paid refund that provides tax relief to homeowners whose property taxes are high relative to their incomes. If a determination results in an overpayment, the amount of the overpayment will be included in the determination letter.Authority to make credits or refunds. The commissioner, within the applicable period of limitations, may credit any overpayment of tax, including interest. Employers that overpay their unemployment insurance tax amount due for a quarter can request a credit adjustment within four years. Find the form and instructions online. When a university employee is overpaid, the department is responsible for communicating with the employee and completing the Overpayment Notification form. Minnesota has two homestead credit programs for homeowners: the regular property tax refund and the special property tax refund.