The Legislature is expanding a program that gives property tax subsidies to low income North Dakotans.
It’s called the “homestead tax credit.” Someone 65 years of age or older – or who is completely disabled – and makes $22,000 or less can qualify for a total property tax exemption. If the person earns between $22,000 and $38,000 a year, you can receive a partial credit. But there is also an “asset test.” Current law says someone who has more than $75,000 in assets would not qualify. The bill raises that asset ceiling to $500,000.
Sen. Joe Miller (R-Park River) says no one is sure how many people may qualify under the new limits.
“It is likely this program will cost us significantly more money," said Miller. "We don't know how many people have assets that worth less than $500,000 but fit the income requirements."
But Miller urged passage.
"For the time being, for the next two years, this is a prudent expansion of the program," said Miller.
The measure adds more than $18 million to the budget for the program. It now goes to Governor Dalrymple.