SF615 (Legislative Session 94 (2025-2026))
Veterans with a disability property market value property tax exclusion modification
AI Generated Summary
This bill proposes an increase in the property tax exclusion for veterans with disabilities in Minnesota. It is altering the previous system by raising the market value exclusion amounts for qualifying homesteads owned by veterans. Specifically, veterans with a service-connected disability of at least 70% can exclude up to $200,000 of their home’s market value (up from $150,000 previously) from property tax calculations. For veterans who are totally and permanently disabled, the excluded amount increases to $400,000, up from $300,000.
Additionally, if a veteran who qualifies for this tax exemption passes away, their surviving spouse can continue to benefit from the exclusion as long as they don’t remarry or sell the property. The bill also makes provisions for the primary family caregivers of veterans, allowing them the same exclusion benefits if the veteran doesn’t own a home. The bill includes specific application instructions and conditions to maintain eligibility for the exclusions. Overall, the aim is to provide greater financial relief to disabled veterans and their families in recognition of their service and sacrifices.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| January 26, 2025 | Senate | Floor | Action | Introduction and first reading | |
| January 26, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Increases exclusion amount from $150,000 to $200,000 for veterans with 70 percent or more disability.",
"Increases exclusion amount from $300,000 to $400,000 for veterans with total 100 percent and permanent disability."
],
"removed": [],
"summary": "This bill amends the market value exclusion for veterans with a disability under section 273.13, subdivision 34, by increasing the exclusion amount for totally and permanently disabled veterans.",
"modified": [
"Clarifies eligibility criteria and benefits transfer to veteran's spouse in case of the veteran's death."
]
},
"citation": "273.13, subdivision 34"
},
{
"analysis": {
"added": [
"Includes federal definition for primary family caregiver eligibility."
],
"removed": [],
"summary": "Defines the role of primary family caregiver according to federal law under 38 U.S.C. § 1720G.",
"modified": []
},
"citation": "38 U.S.C. § 1720G"
}
]