Bill > SF725

This bill establishes a property tax exemption for real property owned and operated by congressionally chartered veterans service organizations, effective for assessment year 2026. Specifically, the bill removes the previous classification rate of one percent for such properties and instead provides a complete property tax exemption. The bill requires the commissioner of veterans affairs to annually provide a list of congressionally chartered veterans service organizations to the commissioner of revenue by January 1st. The exemption applies to properties that qualify under a specific classification (section 273.13, subdivision 25, paragraph (d), clause (3)), which typically covers nonprofit community service-oriented organizations that meet certain criteria, such as not using the property for revenue-producing activities for more than six days per year or making charitable contributions at least equal to the previous year's property taxes. By providing this exemption, the bill aims to support veterans service organizations by reducing their property tax burden, recognizing their important community service and charitable work.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0725&ssn=0&y=2025