Homestead Credit

State

North Dakota

Year

2007

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Type

Circuit Breaker

Benefit

Residents are eligible for an exemption of taxable value that varies by income. There are 5 income brackets ranging from from 100% exempton for those with income below $10,000, not to exceed a maximum reduction of $3,375, up to an exemption of 20% for an income below $17,500 not to exceed a maximum reduction of $675. Renters are also eligible for a credit conditional that 20% of the annual rent exceeds 4% of income, not to exceed $240 credit.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Disability

Income Ceiling

Renter

Wealth Limit

Description of Eligibility Criteria

Applicants must live in the residency, and be 65 years or older, or be totally disabled. Income cannot exceed $17,500. If they are not living in the residency because of illness the property cannot be rented to another person. Spouses are also eligible. Applicants cannot possess assets in excess of $50,000, and $100,000 unencumbered valuation of homestead.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

The county treasurer receives payment from the state treasurer, and then distributes the money to the local taxing districts of the county. Renters receive a refund from the state general fund.

Record ID

ND101_RR07

Footnotes

Rent is calculated exclusive of any federal rent subsidy and of charges for any utilities, services, furniture, furnishings, or personal property appliances furnished by the landlord.

Sources

N.D. Cent. Code § 57-02-08.1 ~ 57-02-08.2 (in effect for 2007)
Acts of 2007, S.B. 2032, 2007 Regular Session effective after December 31, 2006.

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