ND HB1560

Homeowners who have owned their primary residence for 30 years or more qualify for a 100% reduction of taxable valuation, up to a maximum of $18,000 in taxable valuation

Applications must be filed with the tax commissioner by August 1st each year, with initial applications due August 1, 2025 for taxable year 2025

The reduction applies to both real estate and mobile homes used as primary residences, with the state reimbursing counties for lost tax revenue

Spouses are both considered long-term homeowners if only one meets the 30-year ownership requirement; co-owners who are not spouses receive proportional reductions based on ownership interest

The bill is effective for taxable years beginning after December 31, 2024, and does not reduce liability for special assessments or affect school district state aid calculations