SF 1882

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to property taxation; providing a valuation exclusion for homesteads of
certain disabled military veterans; amending Minnesota Statutes 2006, section
273.13, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2006, section 273.13, is amended by adding a
subdivision to read:

new text begin Subd. 34. new text end

new text begin Homestead of disabled veteran. new text end

new text begin (a) All or a portion of the market value
of property qualifying for homestead classification under subdivision 22 or 23 is excluded
in determining the property's taxable market value if it serves as the homestead of a
military veteran, as defined in section 197.447, who has a service-connected disability of
50 percent or more. To qualify for exclusion under this subdivision, the veteran must have
been honorably discharged from the United States armed forces, as indicated by United
States Government Form DD214 or other official military discharge papers, and must be
certified by the United States Veterans Administration as having a service-connected
disability.
new text end

new text begin (b)(1) For a disability rating of at least 50 percent but less than 70 percent, $100,000
of market value is excluded;
new text end

new text begin (2) for a disability rating of 70 percent or more, $140,000 of market value is
excluded, except as provided in clause (3); and
new text end

new text begin (3) for a total (100 percent) and permanent disability, $200,000 of market value is
excluded.
new text end

new text begin (c) If a disabled veteran qualifying for a valuation exclusion under paragraph (b),
clause (3), predeceases the veteran's spouse, and if upon the death of the veteran the
spouse holds the legal or beneficial title to the homestead and permanently resides there,
the exclusion shall carry over to the benefit of the veteran's spouse until such time as the
spouse sells or otherwise disposes of the property.
new text end

new text begin (d) In the case of an agricultural homestead, only the portion of the property
consisting of the house and garage and immediately surrounding one acre of land qualifies
for the valuation exclusion under this subdivision.
new text end

new text begin (e) To qualify for a valuation exclusion under this subdivision a property owner must
apply to the assessor by July 1 of each assessment year, except that an annual reapplication
is not required once a property has been accepted for a valuation exclusion under paragraph
(b), clause (3), and the property continues to qualify until there is a change in ownership.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for assessment year 2007 and
thereafter, for taxes payable in 2008 and thereafter.
new text end