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SF262 (Legislative Session 94 (2025-2026))

Veterans with a disability homestead exclusion increase provision

Related bill: HF194

AI Generated Summary

The proposed bill aims to modify the property tax exemptions available to disabled veterans in Minnesota. Specifically, it increases the amount of a veteran's property value that can be excluded from being taxed, depending on the severity of their disability. Here are the key points:

  1. For veterans with a disability rating of 70% or more: The tax exemption on their homestead (primary residence) market value is increased from $150,000 to $200,000.
  2. For veterans with a 100% total and permanent disability: The exemption is raised from $300,000 to $400,000.
  3. Benefits for surviving spouses: If a veteran eligible for these exemptions dies, their spouse can continue to benefit from the exemption, as long as they do not remarry or sell the property. This applies also to spouses of service members who die due to service-related causes.
  4. Application requirements: Veterans or their spouses must apply for these benefits, and there are specific conditions and deadlines for these applications.
  5. Agricultural homesteads: Only the house, garage, and surrounding acre qualify for the tax exemption.
  6. Change in property use: Owners must notify assessors of any changes in property ownership or usage that would affect homestead status.

This bill is designed to provide greater financial relief in property taxation to disabled veterans, acknowledging their service and sacrifice.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
January 15, 2025HouseFloorActionIntroduction and first reading
January 15, 2025SenateFloorActionIntroduction and first reading
January 15, 2025HouseFloorActionReferred toTaxes
January 15, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Increases exclusion amounts from $150,000 to $200,000 for disabilities of 70% or more, and from $300,000 to $400,000 for total, permanent disabilities."
      ],
      "removed": [],
      "summary": "This bill amends property tax exclusions for homesteads of veterans with disabilities under section 273.13, subdivision 34.",
      "modified": [
        "Adjusts how benefits continue to a veteran's spouse, with extended provisions for marital status changes and property transfers."
      ]
    },
    "citation": "273.13",
    "subdivision": "subdivision 34"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Active service is defined according to the meaning given in section 190.05.",
      "modified": []
    },
    "citation": "190.05",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The term 'veteran' is defined according to the meaning given in section 197.447.",
      "modified": []
    },
    "citation": "197.447",
    "subdivision": ""
  }
]

Sponsors