This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to increase the market value exclusion amounts for homesteads owned by veterans with a service-connected disability. Specifically, for veterans with a disability rating of 70 percent or more, the exclusion amount is raised from $150,000 to $250,000. For veterans with a total (100 percent) and permanent disability, the exclusion amount increases from $300,000 to $450,000. The bill also outlines provisions for surviving spouses of veterans and primary family caregivers, allowing them to benefit from the exclusion under certain conditions.

Additionally, the bill includes a provision that requires the county veterans service officer to certify the disability rating and permanent address of each veteran receiving the benefit to the assessor by July 1. It also establishes that the new exclusion amounts will take effect beginning with the assessment year 2025. Overall, the bill aims to provide enhanced property tax relief for veterans with disabilities and their families, recognizing the sacrifices made by these individuals.

Statutes affected:
Introduction: 273.13