Bill > SF615

This bill modifies the property tax exclusion for veterans with disabilities by increasing the market value exclusion amounts. Specifically, for veterans with a disability rating of 70 percent or more, the market value exclusion increases from $150,000 to $200,000, and for veterans with a total (100 percent) and permanent disability, the exclusion increases from $300,000 to $400,000. The bill maintains existing provisions that allow the tax exclusion to transfer to a spouse under certain circumstances, such as if the veteran predeceases their spouse or dies due to a service-connected cause. The exclusion applies to homestead property owned by veterans who were honorably discharged and have a service-connected disability certified by the United States Department of Veterans Affairs. The purpose of this provision is to provide property tax relief for veterans with disabilities, their primary family caregivers, and surviving spouses, recognizing the burdens borne by those who have served in the military. The changes will become effective with the 2026 assessment year, giving local governments and assessors time to prepare for the new market value exclusion amounts.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0615&ssn=0&y=2025