Disabled Veteran’s Property Tax Exemption

Sellers don’t usually have to discuss their property taxes in the Seller’s Disclosure required by Minnesota law.

For one thing, the current amount is plainly stated right on the MLS listing (and links to the county record).

For another, how are sellers supposed to know what the future taxes will be?

Going  . . . Up

They do if the current property taxes are artificially low due to a disabled veteran’s property tax exemption — in which case the next owner’s tax bill will jump (or leap if the home is in Minneapolis).

Unless, of course, the Buyer is also an eligible veteran.

P.S.  Even without the disclosure, a discerning Buyer would likely have noticed that the taxes were out of whack, and inquired.  Which is why it’s better to be out in front of the issue.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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