MN SF5486

Creates property tax exemption for property owned and operated by congressionally chartered veterans service organizations, effective for assessment year 2024 and thereafter.

Requires Commissioner of Veterans Affairs to annually provide list of qualifying congressionally chartered veterans service organizations to Commissioner of Revenue by January 1.

For assessment year 2024 only, Commissioner of Veterans Affairs must provide list by July 1, 2024, and organizations must file exemption applications with county assessor by August 1, 2024.

Modifies existing Minnesota property classification statutes to include property qualifying under Class 4c that is owned or operated by congressionally chartered veterans organizations with a 1 percent classification rate.