Bill > HF1297

This bill increases the property tax market value exclusion for veterans with disabilities, specifically raising the exclusion amount from $150,000 to $250,000 for veterans with a disability rating of 70 percent or more, and from $300,000 to $500,000 for veterans with a total (100 percent) and permanent disability. To qualify, veterans must have been honorably discharged and have their disability certified by the United States Department of Veterans Affairs. The bill also maintains existing provisions that allow a qualifying veteran's spouse to continue receiving the tax benefit after the veteran's death, provided they remain in the homestead and do not remarry. Additionally, the bill allows for the exclusion to be applied to the homestead of a primary family caregiver if the veteran does not own property in Minnesota. The purpose of this tax relief is to support veterans, their caregivers, and their families who have been most significantly impacted by military service. The changes will become effective for property taxes payable in 2026, 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=House&f=HF1297&ssn=0&y=2025