MN HF3068

Excludes up to $150,000 of market value from property taxation for disabled veterans with a 70 percent or more service-connected disability rating who own their homestead.

Excludes up to $300,000 of market value for veterans with a total (100 percent) and permanent disability rating.

Requires veterans to be honorably discharged from the U.S. armed forces and certified by the Veterans Administration as having a service-connected disability to qualify.

Allows the exclusion to carry over to a surviving spouse for one additional assessment year if the disabled veteran predeceases the spouse, provided the spouse holds legal or beneficial title and permanently resides on the homestead.

Effective for taxes payable in 2011 and subsequent years, with properties receiving the exclusion in 2009 continuing to receive it through 2011 and beyond under the same conditions.