Official Newspaper of Eddy County since 1883
Official Newspaper of Eddy County since 1883
On April 27, 2023, Governor Doug Burgum signed HB 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. Effective date is for taxable year beginning after December 31, 2022.
Income changes to the Homestead Credit for Tax Year 2023
If your income is $0 - $40,000 your taxable value is reduced by 100 percent with a maximum reduction of taxable value of $9,000 and maximum reduction of true and full value of $200,000.
If your income is $0 - $40,001-$70,000 your taxable value is reduced by 50 percent with a maximum reduction of taxable value of $4,500 and maximum reduction of true and full value of $100,000.
This 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 you have already applied for the credit this year, the application will be adjusted to reflect the new percentages. If because of the changes you would now qualify for the program and would like to apply, please contact the Eddy County Tax Director at (701) 947-2434 ext. 2015.
