MN HF3429

Modifies property tax homestead exclusion for disabled veterans with 70 percent or more service-connected disability, excluding $150,000 of market value, or $300,000 for total (100 percent) permanent disability.

Allows surviving spouses of disabled veterans with 100 percent permanent disability to receive the $300,000 exclusion for eight additional tax years after the veteran's death if the spouse holds title and permanently resides in the homestead, or until remarriage or property disposal, whichever comes first.

Eliminates the July 1 application deadline and allows property owners to file applications with assessors at any time; county assessors must verify eligibility and issue tax abatements for the current year prorated from the application date or qualification date.

Extends spousal benefits to surviving spouses of military service members who died from service-connected causes during active duty, providing the $300,000 exclusion for eight tax years under similar conditions.

Establishes new paragraph (n) allowing surviving spouses to transfer the exclusion to a different property of equal or lesser market value, provided the spouse has not previously used this transfer option and the new property remains a permanent residence.