MINNESOTA GIVES DISABLED VETS A TAX BREAK ON THEIR HOMES PROPERTY TAXES!

This is HUGE news!  Fantastic news for disabled Vets or a surviving spouse-the State of MN is going to recognize your service to our country in the form of a taxable exclusion of your home's value.  The provision will offer full or partial tax exlusion based on your level of disability-see details below. 

YOU NEED TO ACT QUICK!!!!

The deadline for 2008 is July 1st to apply with the county assessor.  Did you know that there are approximately 50,000 disabled vets out of the 400,000 vets in Minnesota?  I had no idea.  In fact, the way I found out about this was at a closing today with a veteran.  The veteran is a personal friend of over 23 years.  We just helped him refinance his home.  Depending on the level of disability, disabled vets are also able to be exempt from the VA funding fee.  VA allows for a refinance up to 90% of the value of the home.

The tax exclusion benefit has two tiers-they are as follows:

$150,000 market value exclusion, for a veteran with a service-connected disability rate at 70 to 100%; or

$300,000 market vaue exculsion, for a veteran with a service-connected disability rated as being 100 percent total or permanent.

You can go to www.taxes.state.mn.us and get property tax fact sheet #13  The form you will use for filing with the assessor is CR-DVHE100  The following is a direct quote form a letter written by Clark Dyrud to the veterans: "To both service members and families-thank you for your sacrifice and dedication to this country.  Your efforts have not gone unrecognized, and this initiative demonstrates the depth of this gratitude."