H.F. 2735 Summary

• Excludes $150,000 of market value from property taxes for veterans with 70% or higher service-connected disability ratings and $300,000 for veterans with 100% permanent disabilities.

• Extends the $300,000 exclusion to surviving spouses of disabled veterans for eight additional tax years after the veteran's death, or until the spouse remarries or sells the property.

• Allows surviving spouses of service members who died from service-connected causes to receive the $300,000 exclusion benefit for eight tax years.

• Permits disabled veterans who don't own Minnesota homestead property to transfer their exclusion benefit to their primary family caregiver's homestead.

• Establishes an effective date of taxes payable in 2019 and requires county veterans service officers to certify disability ratings to assessors by July 1 annually.