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MN SF710
Bill
Status
Introduced
1/25/2023
Primary Sponsor
Justin Eichorn
Click for details
AI Summary
- Increases the homestead property tax exclusion for veterans with a 70 percent or greater service-connected disability from $150,000 to $200,000 of market value.
- Increases the homestead property tax exclusion for veterans with a total (100 percent) and permanent disability from $300,000 to $400,000 of market value.
- Extends the same increased exclusion amounts to surviving spouses of disabled veterans and spouses of service members who die from service-connected causes, subject to existing conditions on remarriage and property transfer.
- Allows surviving spouses to transfer the tax exclusion benefit to a different property if the new property's market value does not exceed the original property's value.
- Effective beginning with assessment year 2024.
Legislative Description
Disabled veteran tax exclusion amounts modification
Last Action
Referred to Taxes
1/25/2023
Committee Referrals
Taxes1/25/2023
Full Bill Text
No bill text available