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 $450,000, and for veterans with a disability rating of 70 percent or more, the exclusion amount is raised from $150,000 to $225,000. The bill also clarifies that the exclusion can carry over to the veteran's spouse under certain conditions, such as if the spouse holds legal title to the homestead and permanently resides there after the veteran's death.

Additionally, the bill outlines the eligibility criteria for the exclusion, including the requirement for veterans to have been honorably discharged and to apply by December 31 of the first assessment year for which the exclusion is sought. It also establishes provisions for primary family caregivers and surviving spouses of service members who died due to service-connected causes. The effective date for these changes is set to begin with the assessment year 2027.

Statutes affected:
Introduction: 273.13
1st Engrossment: 273.13