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What Are Property Tax Credits?
- Property tax credits will reduce a homeowner's taxable value according
to the following schedule:
| If Your Income Is: |
Taxable Value Is Reduced By: |
Maximum Reduction: |
| $ 0 - 10,000 |
100% |
$3,375 |
| 10,001 - 12,000 |
80% |
$2,700 |
| 12,001 - 14,000 |
60% |
$2,025 |
| 14,001 - 16,000 |
40% |
$1,350 |
| 16,001 - 17,500 |
20% |
$ 675 |
- The property tax credit is subject to adjustment, equalization, and
abatement in the same manner as other real property assessments.
What Are The Eligibility Requirements for Property Tax
Credits?
Property Tax Credits Are Available to Homeowners Who:
- Are 65 years old or totally and permanently disabled. For a husband
and wife who are living together, only one can apply for the credit.
Only the spouse applying for the refund need to be 65 years of age.
- Reside on the property for which the credit is claimed and have a
legal interest in the property.
- Are temporarily absent because you are in a hospital, nursing home,
or other care facility. However, you cannot rent the property out to
others while you are absent.
- Have income, plus the income of a spouse and any dependents for the
calendar year preceding the assessment date, which does not exceed $17,500.
- Have assets of less than $50,000. Do not count the market value of
the homestead up to $100,000.
How Do I Determine My Income?
You must consider income from all sources including, but not limited
to: county, state, or federal public assistance benefits; social security benefits or other retirement benefits.
- Life insurance death proceeds paid to a surviving spouse or dependent,
worker's compensation, veteran's disability, lump sum payments for personal
injury settlement or Social Security Disability are not included as
income under this act.
- Medical expenses are deductible from income if not compensated by
insurance or other form of compensation.
How Do I Apply for Property Tax Credits?
- If you believe you are eligible for a property tax credit, call your
local director of tax equilization office for an application. The application should be
filed by February 1 in the year your property is assessed and for which
you request a property tax credit.
What are Homestead Credits for Special Assessments?
- The Special Assessments Tax Credit helps elderly or disabled homeowners
who cannot afford to pay their special assessments.
- The Special Assessments
Tax Credit does not eliminate or forgive taxes owed against the
property but it does defer them.
- Any elderly or disabled person in North Dakota who has qualified
for the Property Tax Credit for Senior Citizens or Disabled Persons
may choose to also qualify for these additional homestead special
assessment credits.
- If you decided to apply for the Homestead Special Assessments Credit,
you should be aware that the state will have a lien against the property.
This lien will remain until it is paid. Interest of 9% per year will
be added. The lien and the interest must be paid before title to the
property is transferred to anyone, other than a surviving spouse.
How Do I Apply for Homestead Special Assessment Credit?
- Application for the Homestead Special Assessment Credit can be obtained
from your County Auditor.
- The application should be filed with your County Auditor on or before
February 1 of the year in which the assessment becomes payable.
Disclaimer: This information is not legal advice. If you have a legal problem, you should talk to a lawyer and ask for advice about your options.
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