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MN SF3069
Bill
Status
Introduced
3/8/2010
Primary Sponsor
Leo Foley
Click for details
AI Summary
- Modifies property tax exemptions for disabled veterans by replacing fixed dollar amounts ($150,000 and $300,000) with percentage-based exclusions tied to average county residential homestead values
- Veterans with 70 percent or more service-connected disability receive 70 percent market value exclusion up to 70 percent of the county average homestead value
- Veterans with total (100 percent) and permanent disability receive 100 percent market value exclusion up to the full county average homestead value
- Requires Department of Veterans Affairs certification of service-connected disability and honorable discharge documentation via DD214 form
- Extends surviving spouse exemption eligibility indefinitely if the spouse holds title and resides in the home, removing the previous one-year limit
- Establishes floor guarantee that no property's exclusion shall be less than its 2010 tax year exclusion amount
- Effective for assessment year 2010 and thereafter, for taxes payable in 2011 and thereafter
Legislative Description
Property tax homestead market value exemption program benefits for disabled veterans and their surviving spouses modification
Last Action
Senate: Introduction and first reading
3/8/2010
Committee Referrals
Taxes3/8/2010
Full Bill Text
No bill text available