Bill > SF17

This bill increases the market value tax exclusion for homestead properties owned by veterans with disabilities and their families. Specifically, for veterans with a service-connected disability rating of 70 percent or more, the market value tax exclusion increases from $150,000 to $165,000, and for veterans with a total (100 percent) and permanent disability, the exclusion increases from $300,000 to $330,000. To qualify, veterans must have been honorably discharged and have their disability certified by the U.S. Department of Veterans Affairs. The bill also preserves existing provisions that allow surviving spouses to continue receiving the tax exclusion under certain conditions, such as remaining in the homestead and not remarrying. Additionally, if a veteran meets disability criteria but does not own a Minnesota homestead, their primary family caregiver's property can be eligible for the exclusion. The purpose of this provision is to provide property tax relief for veterans with disabilities, their caregivers, and surviving spouses, recognizing the sacrifices made by those who have served in the U.S. armed forces. The changes will take effect for property taxes payable in 2026.