This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to increase the property tax exclusion amounts for homesteads owned by veterans with a service-connected disability. Specifically, the exclusion amount for veterans with a disability rating of 70 percent or more is raised from $150,000 to $200,000, while the exclusion for those with a total (100 percent) and permanent disability is increased from $300,000 to $400,000. The bill also outlines the eligibility criteria for veterans and their spouses, including provisions for family caregivers and the continuation of benefits for surviving spouses under certain conditions.

Additionally, the bill establishes that the changes will take effect starting with the assessment year 2025. It emphasizes the intent to provide tax relief to veterans with disabilities, their primary caregivers, and surviving spouses, thereby easing the financial burdens faced by these individuals due to their service. The bill includes various stipulations regarding the application process and the responsibilities of county veterans service officers in certifying disability ratings.

Statutes affected:
Introduction: 273.13