MN SF3742

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

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

Allows surviving spouses of veterans with total and permanent disability to continue receiving the exclusion on a different property if the new property's value does not exceed the original property's value.

Permits surviving spouses to reapply for exclusions that expired before taxes payable in 2020.

Changes effective beginning with assessment year 2024.