A DFL sponsored bill aimed at keeping disabled veterans and surviving spouses in their homes was heard this week in the Veterans and Military Affairs Committee. The bill lowers property tax rates for disabled veterans and spouses by allowing 100% permanently disabled veterans to exclude $400,000 of the market value of their home for property tax purposes. The bill also increases this exclusion to $200,000 for veterans who are 70% disabled or their surviving spouse.
As the cost of home ownership continues to rise, many disabled veterans and their families find it increasingly hard to remain in their home. This bill seeks to keep pace with rising home values that result in higher property tax rates for residents. Senate DFLers will continue to support this important legislation as it moves to the Senate Tax Committee. (SF 4103)