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Minnesota has just passed a bill that is now in effect for tax year 2008. The KEY date is July 1st of 2008 to apply for the benefit. How would you like a permanent exclusion of your home's value from property taxation?
Here are the details:
The bill is the 2008 Omnibus Tax Bill passed by the Minnesota Legislature. Veterans who have a high enough disability rating will receive an exclusion of part of their valuation from taxation. If you apply in time, you can get the exclusion for 2008. Once your approved, it will continue into 2009 and beyond.
$150,000 of market value is excluded if you are a veteran with a service connected disability rated at 70% to 100%.
$300,000 of market value is excluded for a veteran with a service connected disability rated at 100% that it considered total and permanent.
You can contact the County Veterans Service officer at 1-888-Linkvet(546-5838) for more details.
If you go to http://www.taxes.state.mn.us and look at fact sheet #13 you will see the info and steps you need to take. The form you file with the assessor's office is CR-DVHE1
This is Memorial Day weekend-Let's all be greatful for the efforts of the veterans, for the freedoms we enjoy today are a result of their efforts. Thanks guys and gals!
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