Disabled vets eligible for property tax benefitThe Minnesota Department of Revenue reminds disabled veterans to take advantage of a new property tax benefit, allowing them full or partial property tax exclusion for their homestead.
The Minnesota Department of Revenue reminds disabled veterans to take advantage of a new property tax benefit, allowing them full or partial property tax exclusion for their homestead.
The deadline has been extended from July 1, 2008 to September 1, 2008. After this year, the annual application deadline will be July 1.
Approximately 10,000 disabled veterans across the state can look forward to paying less in property taxes, as a result of legislation signed by Governor Tim Pawlenty this year as part of his Military and Veterans Support Package.
To qualify for the exclusion, veterans must have a service-connected disability rating from 70-100 percent, as determined by the United States Department of Veterans Affairs. The Market Value Exclusion for Disabled Veterans is effective for assessment year 2008, taxes payable in 2009, and thereafter. Exclusion values will range from $150,000 to $300,000 depending on the disability rating and other eligibility factors.
“Our veterans have put their lives on the line for all of us and this program is one way to show our gratitude for their tremendous sacrifice,” said Revenue Commissioner Ward Einess.
Qualifying veterans may supply the United States Government Form DD214 or other official military discharge papers, as well as documentation from the Veterans Administration verifying disability status. The Veterans Administration may also provide a letter that encompasses all required information (both discharge and disability).
For more information and to download the application, veterans should visit the Department of Revenue’s Web site at www.taxes.state.mn.us or contact their county assessor’s office or County Veterans Service Officer.