Bill > HF631

This bill modifies property tax exemptions for veterans with disabilities by changing how the market value exclusion is calculated. Previously, veterans with a 70% disability rating could exclude $150,000 of their home's value from taxes, and those with a 100% permanent disability could exclude $300,000. The new bill replaces these fixed amounts with a formula based on the statewide median market value of residential and agricultural homestead properties. Specifically, veterans with a 70% disability rating can now exclude 0.75 times the base amount, while those with a 100% permanent disability can exclude 1.5 times the base amount. The bill maintains existing provisions allowing surviving spouses to continue receiving the tax benefit under certain conditions, such as remaining in the home and not remarrying. The legislation also clarifies eligibility requirements, including the need for an honorable discharge and certification of disability by the U.S. Department of Veterans Affairs. The purpose of the law 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 military. The changes will become effective with the 2025 assessment year.

Military Affairs and Security

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0631&ssn=0&y=2025