Minnesota Department of Revenue sent this bulletin at 06/11/2015 03:34 PM CDT
For immediate release:
June 11, 2015
Contact: Ryan Brown
Department of Revenue reminds qualifying homeowners to claim the homestead benefit for veterans with disabilities
ST. PAUL, Minn. – The Minnesota Department of Revenue is reminding homeowners that applications for the Market Value Exclusion for veterans with disabilities are due by July 1, 2015.
“We encourage every eligible veteran to file for the Market Value Exclusion. The exclusion is a significant benefit for veterans with disabilities, saving some of them from paying any property taxes,” said Revenue Commissioner Cynthia Bauerly. “This benefit is just one of the things that Minnesota does to honor our veterans who have served our state and country.”
Last year, more than 13,000 taxpayers claimed the exclusion, resulting in $1.8 billion in market value exclusions. The number of veterans taking advantage of the benefit has doubled since the program began in 2008.
To qualify, veterans must:
- Be honorably discharged from the United States armed forces
- Have a service-connected disability rating of 70 percent or more
- Homestead a property in Minnesota
For more information on the program and to apply, check out our Veterans with Disabilities Market Value Exclusion fact sheet.