Paid for by
Rick Olseen For Senate.

10448 Sunrise Rd.,
Harris, MN 55032

Content Copyright © 2006 Rick Olseen

Last week, the Legislature passed and the governor signed into law a tax bill that while largely technical will provide great benefits to Minnesota’s disabled veterans and a variety of local governments, including Taylors Falls. This bill contains no tax increases and its swift passage and enactment reflects a great deal of cooperation between the Legislature and the governor. We wanted to ensure that Minnesotans could take full advantage of new tax deductions. I’m especially pleased that two provisions that I authored were included in this package, which passed both bodies of the Legislature with overwhelming bipartisan majorities.
To honor our veterans and acknowledge the sacrifices they have made on behalf of our freedom, I authored legislation that would exempt disabled veterans from property taxes. For those veterans who become 100 percent disabled as a result of their service, they are exempt from paying property taxes on properties up to $300,000 in value. For those 70-100 percent disabled due to their service, property values up to $150,000 are exempt from the property tax.
As a state, I feel this is the least we can do to provide relief for those who have given so much, and as a result of their service have become less able to provide financially. I’m very pleased that the full Legislature and governor agree with me, and supported this important property tax relief language as part of the larger tax bill.
This bill also provides the City of Taylors Falls with an additional $30,000 a year from the state to help cover the cost of its fire and rescue service for Interstate Park. Taylors Falls is the only Minnesota city with a state park entirely within its city limits, so it is responsible for all public safety-related expenses incurred in the park. Due to the high volume of tourists visiting the park and the number of people injured in cliff diving or rock-climbing accidents—paying these costs has been a hefty burden for local property taxpayers. For several years, city officials have been coming to the Capitol asking for an increase in local government aid to reflect the costs incurred due to the state park. Rep. Kalin and I carried this legislation for the city and I am very pleased that this year it was finally passed into law.
Finally, the tax bill will make filing your income taxes an easier and more streamlined process. It contains provisions that line up Minnesota income tax deductions with federal deductions. As a result, Minnesotans will save an estimated $6 million in income taxes this year.
The Minnesota Department of Revenue is working to update its forms and instructions to reflect this federal conformity. Taxpayers who have not yet filed their 2007 income taxes will face a simpler process once this is completed. If you have already filed your 2007 taxes, you may be eligible for new deductions. A simple amendment can be filed to take advantage of the changes.

To view the new forms and instructions, you can visit http://www.taxes.state.mn.us/ or call the tax helpline at 651-296-3781 or 1-800-652-9094.
I encourage you to contact me with your questions or comments on any issue. You may call me at 651-296-5419, send an e-mail to sen.rick.olseen@senate.mn, or write to G-24 State Capitol, St. Paul, MN 55155.