This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to enhance the property tax benefits for veterans with disabilities. Specifically, it increases the market value exclusion for totally and permanently disabled veterans from $300,000 to $400,000, and for veterans with a disability rating of 70 percent or more, the exclusion amount is raised from $150,000 to $200,000. These changes aim to provide greater financial relief to veterans and their families by reducing the taxable market value of their homesteads.

Additionally, the bill outlines provisions for surviving spouses of veterans who qualify for these exclusions, ensuring they can retain the benefits under certain conditions. It also establishes a requirement for county veterans service officers to certify the disability ratings of veterans receiving these benefits by July 1 each year. The new legal language includes an effective date for these changes, which will begin with the assessment year 2026.

Statutes affected:
Introduction: 273.13