This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to increase the market value exclusion for veterans with a disability. Specifically, for veterans with a service-connected disability rating of 70 percent or more, the exclusion amount is raised from $150,000 to $250,000. For those with a total (100 percent) and permanent disability, the exclusion increases from $300,000 to $500,000. 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 apply to property taxes payable starting in 2026. This legislative change aims to provide greater tax relief for veterans with disabilities, their caregivers, and surviving spouses, thereby easing the financial burdens they face.

Statutes affected:
Introduction: 273.13