MN HF3507

Extends homestead market value exemption benefits to the surviving spouse of a disabled veteran who predeceases, allowing the spouse to retain the exemption if they hold legal or beneficial title and permanently reside on the homestead property.

Establishes $150,000 market value exemption for disabled veterans with 70 percent or more service-connected disability rating, and $300,000 exemption for those with total (100 percent) and permanent disability rating.

Requires disabled veterans to have honorable discharge from U.S. armed forces, documentation via DD214 or equivalent discharge papers, and certification from the U.S. Veterans Administration of service-connected disability.

Limits exemption application to the house, garage, and immediately surrounding one acre of land on agricultural homesteads, and prohibits properties from receiving both this exemption and certain other tax credits or homestead classifications.

Makes the amendments effective for taxes payable in 2011 and thereafter, applying to surviving spouses of disabled veterans who were eligible for the program at the time of death.