Check out new program
Kevin Ternes, Minot
The 2013 N.D. Legislative Assembly recently made it less restrictive for senior citizens of limited income and assets to qualify for a property tax discount on the home they live in. In addition to press releases in both print media and television several weeks ago, I would like to take this opportunity to inform everyone of the changes.
For those property owners that are 65 or older, the maximum combined income for a household has now been raised to $42,000. The maximum assets allowed for seniors to qualify for the homestead credit is now $500,000 including the value of the homestead and other assets like cash, other real estate, personal property, stocks, bonds etc. The changes basically will allow more seniors to take advantage of the homestead credit to reduce their property tax liability.
Those property tax dollars that are saved by qualifying senior citizens will be reimbursed to schools, parks, counties and cities by an appropriation from the state of N.D. The process to apply is relatively simple and includes a one-page document to fill out annually that our office can assist the applicant in completing.
Senior citizens who are Minot residents and have questions about the Homestead Credit program, can contact the Minot City Assessor’s Office at 857-4160. For those seniors living outside of Minot but in Ward County, they can contact the Ward County Tax Director’s Office at 857-6430.