Increases exclusion amounts for the homestead market value exclusion for veterans with a disability in Minnesota.

The bill amends Minnesota Statutes to increase the exclusion amounts for the homestead market value exclusion for veterans with a disability. For veterans with a disability rating of 70 percent or more, the exclusion amount increases from $150,000 to $375,000. For veterans with a total (100 percent) and permanent disability, the exclusion amount increases from $300,000 to $420,000. The changes apply to assessment year 2025 and beyond.

Increases exclusion amounts for the homestead market value exclusion for veterans with a disability in Minnesota.

The bill amends Minnesota Statutes to increase the exclusion amounts for the homestead market value exclusion for veterans with a disability. For veterans with a disability rating of 70 percent or more, the exclusion amount increases from $150,000 to $375,000. For veterans with a total (100 percent) and permanent disability, the exclusion amount increases from $300,000 to $420,000. The changes apply to assessment year 2025 and beyond.