MN HF2261

Extends the homestead property tax valuation exclusion for spouses of disabled veterans with 100 percent service-connected disabilities from a 5-year limit to indefinite continuation until remarriage or property disposal.

Extends the homestead property tax valuation exclusion for spouses of service members who die from service-connected causes during active duty from a 5-year limit to indefinite continuation until remarriage or property disposal.

Maintains the $150,000 market value exclusion for veterans with 70 percent or higher service-connected disabilities and the $300,000 exclusion for veterans with total (100 percent) and permanent disabilities.

Allows disabled veterans who do not own homestead property in Minnesota to transfer their valuation exclusion benefit to their primary family caregiver's homestead.

Effective for property taxes payable in 2015 and thereafter.