ND SB2270

Individuals age 65 or older may file an irrecoverable claim to reduce the true and full valuation of their primary residence by 70 percent if they have owned and occupied the property for at least two years and are current on property tax payments.

The property tax reduction remains in effect until the first full taxable year after the claimant no longer owns and occupies the residence.

The reduction continues to apply if the individual is confined to a nursing home, hospital, or other care facility for as long as that confinement lasts.

If one co-owner of a property qualifies and files the claim, the 70 percent reduction applies to the entire residence regardless of the age of other co-owners.

The tax commissioner shall prescribe necessary forms and county tax equalization directors shall make them available upon request; the act is effective for taxable years beginning after December 31, 2020.