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, for veterans with a disability rating of 70 percent or more, the exclusion amount is raised from $150,000 to $200,000. For veterans with a total (100 percent) and permanent disability, the exclusion amount increases from $300,000 to $400,000. 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 new effective date stating that these changes will take effect beginning with the assessment year 2025. This legislation aims to provide greater financial relief to veterans with disabilities and their families, acknowledging the sacrifices made by these individuals and easing their property tax burdens.

Statutes affected:
Introduction: 273.13