Senate File No. 772 is a legislative bill aimed at increasing the property tax relief for veterans with disabilities in Minnesota. It proposes amendments to adjust the market value exclusion rates on the homes of veterans depending on their disability ratings. Here are the key points:

1. Increased Exclusion Amounts: The bill increases the property value that can be excluded from taxation for veterans with a disability rating of 70% or more to $250,000 and for those with a total and permanent disability to $500,000.

2. Spousal Benefits: If a veteran eligible for the tax benefit passes away, their spouse can continue to receive the property tax exclusion until they remarry or no longer own the property.

3. Eligibility for Family Caregivers: If a veteran eligible for the exclusion does not own a home, the primary family caregiver’s home may qualify for the same tax exclusion.

4. Application Requirements: Property owners must apply for the exclusion by December 31 of the assessment year, and notify the assessor of any changes in property ownership or use.

5. Continuation Provisions: A spouse who has previously benefited from the exclusion can continue to receive it on a different property under certain conditions, such as maintaining residence and not exceeding the market value of the original property.

The bill is designed to provide additional financial relief to disabled veterans and their families, recognizing the sacrifices made by those who have served in the armed forces.