Minnesota SF725 removes classification rate and establishes property tax exemption for certain property owned and operated by congressionally.

Minnesota SF725 amends the state's tax code to exempt property owned and operated by congressionally chartered veterans service organizations from classification rates. The bill specifies that such properties are exempt and requires the commissioner of veterans affairs to provide a list of these organizations to the commissioner of revenue. The exemption is effective beginning with assessment year 2026.

Minnesota SF725 removes classification rate and establishes property tax exemption for certain property owned and operated by congressionally.

Minnesota SF725 amends the state's tax code to exempt property owned and operated by congressionally chartered veterans service organizations from classification rates. The bill specifies that such properties are exempt and requires the commissioner of veterans affairs to provide a list of these organizations to the commissioner of revenue. The exemption is effective beginning with assessment year 2026.