MN HF3505

Increases homestead property tax exclusion for veterans with a 70 percent or more service-connected disability from $150,000 to $200,000 of market value.

Increases homestead property tax exclusion for veterans with a total (100 percent) and permanent disability from $300,000 to $400,000 of market value.

Allows surviving spouses of qualifying veterans to continue receiving the exclusion on a different property if they move, subject to conditions including property value limits and application requirements.

Permits spouses whose exclusions expired before taxes payable in 2020 to reapply for the veteran's homestead exclusion benefit.

Effective beginning with assessment year 2024.