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ND SB2171

Bill

Official Source

Status

Passed

5/24/2013

Primary Sponsor

Jerry Klein

Click for details

Origin

Senate

63rd Legislative Assembly

AI Summary

  • Increases income thresholds for North Dakota homestead property tax credit eligibility for seniors (65+) and permanently disabled persons from $18,000-$26,000 range to $22,000-$38,000 range
  • Raises maximum tax reduction amounts at each income tier: tier 1 increases from $4,500 to $4,500 (unchanged), tier 2 from $3,600 to $3,600 (unchanged), tier 3 from $2,700 to $2,700 (unchanged), tier 4 from $1,800 to $1,800 (unchanged), and tier 5 from $900 to $900 (unchanged) of taxable valuation
  • Increases asset limit for exemption eligibility from $75,000 to $75,500, excluding up to $100,000 of unencumbered homestead value
  • Allows exemption to continue if applicant resides in nursing home, hospital, or care facility as long as homestead portion is not rented to another person
  • Effective for taxable years beginning after December 31, 2012

Legislative Description

The homestead property tax credit; and to provide an effective date.

Last Action

Signed by Governor 05/03

5/24/2013

Committee Referrals

Appropriations3/29/2013
Finance and Taxation2/26/2013
Appropriations2/14/2013
Finance and Taxation1/15/2013

Full Bill Text

No bill text available