This bill amends Minnesota Statutes to modify the market value exclusion for veterans with disabilities, specifically changing the eligibility criteria and the exclusion amounts. The bill lowers the service-connected disability threshold from 70% to 50% for veterans to qualify for a property tax exclusion. Additionally, it establishes that for a disability rating of 50%, the exclusion base amount is set at $200,000 for assessment year 2024, with annual adjustments based on economic indicators thereafter. For veterans with a 100% disability rating, the exclusion is defined as two times the exclusion base amount.

The bill also clarifies provisions regarding surviving spouses of veterans, allowing them to retain the property tax exclusion under certain conditions, such as holding legal title and residing in the homestead. It includes stipulations for primary family caregivers of veterans and outlines the responsibilities of county veterans service officers in certifying disability ratings. The changes aim to provide greater tax relief for veterans with disabilities and their families, easing the financial burdens they face. The effective date for these changes is set for assessment year 2024 and beyond.