This bill amends Minnesota Statutes 2024, section 273.13, subdivision 34, to increase the market value exclusion for veterans with a disability. Specifically, it raises the exclusion amount for veterans with a service-connected disability rating of 70 percent or more from $150,000 to $250,000, and for those with a total (100 percent) and permanent disability, the exclusion increases from $300,000 to $500,000. The bill also outlines the eligibility criteria for veterans and their spouses to qualify for these exclusions, including the requirement for an honorable discharge and the need for certification from the United States Department of Veterans Affairs.

Additionally, the bill includes provisions for the continuation of the exclusion for surviving spouses and primary family caregivers of eligible veterans. It specifies that if a veteran dies, their spouse can retain the exclusion under certain conditions, such as holding legal title to the homestead and residing there. The bill also establishes a certification process for county veterans service officers to verify the disability rating of veterans receiving benefits. The new provisions will take effect for property taxes payable in 2026.

Statutes affected:
Introduction: 273.13