S.F. No. 1253 - Disabled Veterans Property Tax Exclusion

• Increases the property tax market value exclusion for veterans with a 70 percent or higher service-connected disability rating from $150,000 to $200,000

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

• Extends the same increased exclusion benefit ($400,000) to surviving spouses of disabled veterans and spouses of service members who died from service-connected causes

• Applies the exclusion to the homestead property of a veteran's primary family caregiver if the veteran does not own Minnesota homestead property but meets disability criteria

• Effective beginning with assessment year 2024