FOR IMMEDIATE RELEASE

 

May 12, 2023

 

For more information, contact:
Randy Thompson
Benson County Tax Equalization Director

701-473-5340 ext. #2005
rrthompson@nd.gov

 

Expansion of the Homestead Tax Credit for 2023

On April 27, 2023, Governor Doug Burgum signed House Bill 1158 into law. This legislation broadens the eligibility requirements and maximum reduction amounts for those applying for the North Dakota Homestead Property Tax Credit program. This program is aimed at homeowners 65 years of age and older or those who are permanently and totally disabled.

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Income changes to the Homestead Credit for Tax Year 2023:

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    If your income is:                    Taxable value is reduced                        Maximum reduction of                          Maximum reduction of                                                          by:                                                          taxable value:                                       true & full value:

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     $0 - $40,000                            100%                                                      $9,000                                                  $200,000

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     $40,001 - $70,000                   50%                                                        $4,500                                                  $100,000

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The credit does not reduce the liability of any person for special assessments levied upon any property.

With this new legislation, the asset limit of $500,000 has been removed. Applications must be submitted yearly for approval.

If an individual has already applied for the credit this year, the application will be adjusted to reflect the new percentages.

If an individual qualifies for the program and would like to apply, contact the Benson County Tax Equalization Office at (701) 473-5340.