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 to qualify for these exclusions, including the requirement for an honorable discharge and the need for certification from the United States Department of Veterans Affairs.

Additionally, the bill provides provisions for the continuation of the exclusion for surviving spouses and primary family caregivers of eligible veterans. It specifies that if a veteran dies, their spouse can retain the exclusion benefits under certain conditions, such as holding legal title to the homestead and residing there. The bill also includes a new effective date, stating that these changes will take effect beginning with the assessment year 2025.

Statutes affected:
Introduction: 273.13