This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to increase the market value exclusion for 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 $165,000, while the exclusion for those with a total (100 percent) and permanent disability is increased from $300,000 to $330,000. The bill also outlines the eligibility criteria for veterans and their spouses to qualify for these exclusions, including requirements for honorable discharge and residency.

Additionally, the bill includes provisions for the continuation of the exclusion for surviving spouses and primary family caregivers of veterans, ensuring they can benefit from the tax relief even after the veteran's death, under certain conditions. The effective date for these changes is set for property taxes payable in 2026. Overall, the bill aims to provide enhanced property tax relief for veterans with disabilities and their families, acknowledging the sacrifices made by these individuals.

Statutes affected:
Introduction: 273.13