MN SF2796

Extends the filing deadline for initial applications for disabled veteran homestead market value exclusion from December 15 to allow applications to be filed and become effective for the following tax year.

Eliminates the requirement for annual reapplication once a property has been accepted for the valuation exclusion under paragraph (a) and qualifies for the maximum benefit ($300,000 exclusion for 100 percent permanent disability), provided ownership does not change.

Allows qualifying spouses of service members who died from service-connected causes to apply for the market value exclusion any time within two years of the service member's death.

Maintains the exclusion amounts: $150,000 market value exclusion for disabilities rated 70 percent or more, and $300,000 for total (100 percent) and permanent disabilities.

Effective beginning with taxes payable in 2017.