Homestead Tax Credit

Expansion of the Homestead Tax Credit for 2023

 

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.


Income changes to the Homestead Credit for Tax Year 2023:

 

If your income is:

Taxable value is reduced by:

Maximum reduction of taxable value:

Maximum reduction of true & full value:

$0 - $40,000

100%

$9,000

$200,000

$40,001 - $70,000

50%

$4,500

$100,000

 

Applicants may deduct from their income the amount of medical expenses actually paid by them or by any person dependent upon them and not reimbursed by insurance or other form of compensation.


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.

 

You must own and reside in the home as of February 1 each year.

 

A person whose homestead is exempt as a farm residence pursuant to N.D.C.C § 57-02-08(15) is not eligible for this credit.

 

If you have any questions, please contact the Ramsey County Tax Equalization Office at (701) 662-7012 or for Devils Lake City Residents, contact the City Assessors Office at (701) 662-7600 Ext. 227.

Homestead Tax Credit Documents

Links to tax.nd.gov