Exclusion amount increase for the homestead market value exclusion for veterans with a disability

SF 1190 increases property tax relief for Minnesota veterans with service-connected disabilities. The bill raises the homestead market value exclusion from $150,000 to $375,000 for veterans with a 70%+ disability rating, and from $300,000 to $420,000 for veterans with a total (100%) permanent disability. This directly benefits qualifying veterans, their surviving spouses (if they meet residency and ownership requirements), and primary family caregivers living with the veteran. The policy change modifies Minnesota Statutes § 273.13, subdivision 34, to provide higher tax savings on their primary residence. The exclusion requires application to the local assessor and verification of disability status by the U.S. Department of Veterans Affairs.