Minnesota HF194 increases the exclusion amount for homesteads of veterans with a disability.

Minnesota HF194 amends the state's tax code to increase the exclusion amount for homesteads of veterans with a disability. The bill raises the exclusion amount from $150,000 to $200,000 for veterans with a service-connected disability of 70 percent or more, and from $300,000 to $400,000 for those with a total (100 percent) and permanent disability. This change applies to assessment year 2025 and aims to provide greater tax relief to veterans and their families.

Minnesota HF194 increases the exclusion amount for homesteads of veterans with a disability.

Minnesota HF194 amends the state's tax code to increase the exclusion amount for homesteads of veterans with a disability. The bill raises the exclusion amount from $150,000 to $200,000 for veterans with a service-connected disability of 70 percent or more, and from $300,000 to $400,000 for those with a total (100 percent) and permanent disability. This change applies to assessment year 2025 and aims to provide greater tax relief to veterans and their families.