ND HB1306

Increases the homestead property tax credit cap for disabled veterans from $5,000 to $6,750 of taxable valuation for homesteads owned and occupied by the veteran or unremarried surviving spouse.

Eligible disabled veterans must have a service-connected disability rating of 50 percent or greater, or have an extra-schedular rating for individual unemployability resulting in 100 percent total disability rating as determined by the Department of Veterans' Affairs.

Credit amount equals the percentage of the disabled veteran's disability compensation rating; unremarried surviving spouses receiving dependency and indemnity compensation receive a 100 percent exemption.

Combined credits for two married disabled veterans living together cannot exceed 100 percent of $6,750; disabled veterans co-owning with non-spouses have credits limited to their ownership percentage multiplied by the $6,750 cap.

Effective for ad valorem property taxes on taxable years beginning after December 31, 2012, and for mobile home taxes on taxable years beginning after December 31, 2013.