ND HB1295

Expands homestead property tax credit eligibility for individuals age 65 or older by lowering the minimum age threshold from 65 to 65 and increasing the maximum exemption from $5,625 to up to $350,000 in true and full homestead value.

Creates a new age-based exemption schedule with graduated property tax reductions ranging from 5 percent at age 65 to 100 percent at age 75 and older, applied against total property taxes levied on the homestead.

Maintains existing income-based exemption provisions for seniors and permanently disabled individuals with incomes up to $42,000, with reductions ranging from 100 percent down to 10 percent based on income brackets.

Allows exemption to continue if applicant is confined to nursing home, hospital, or care facility as long as homestead portion is not rented to another individual.

Effective for taxable years beginning after December 31, 2017.