ND HB1285

Allows individuals with income not exceeding $42,000 who are permanently and totally disabled, eligible for disabled veteran credit, or age 65 or older to file an irrevocable claim freezing their primary residence's assessed property valuation.

Property valuation freeze remains in effect until the first full taxable year after the claimant no longer owns and occupies the residence.

One co-owner's claim to freeze the property valuation is valid for the entire residence regardless of the age or disability status of other co-owners.

"Income" includes all sources such as social security and retirement benefits but excludes federal rent subsidies, federally or state-excluded income amounts, and uncompensated medical expenses.

Tax commissioner must prescribe and design necessary forms, with county tax equalization directors making forms available upon request; effective for taxable years beginning after December 31, 2016.