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600 E. Boulevard Ave.
  Bismarck, ND 58505-0599
  701.328.7088 phone
  701.328.3700 fax
  877.328.7088 toll-free
FOR IMMEDIATE RELEASE Contact: Beth Boustead, 701.328.3039
Wednesday May 6, 2009

Fong: More Elderly and Disabled Homeowners Now Qualify For Homestead Tax Credit

BISMARCK, N.D. – Tax Commissioner Cory Fong announced today that more low-income senior citizens and disabled persons may be able to receive the Homestead Tax Credit for 2009 because of recent changes to the eligibility requirements.

“The 2009 Legislature recently passed Senate Bill 2402 making the credit available to more of our low-income elderly or disabled homeowners,” said Fong.

The Homestead Tax Credit is available to homeowners who are 65 years of age or older, or permanently and totally disabled. Qualified applicants receive a reduction in the property taxes on their primary residence.

“The Homestead Tax Credit is an important program that helps our low-income seniors and disabled homeowners stay in their homes,” said Fong. “The changes made to the program will allow more elderly and disabled homeowners to qualify for the program.”

The 2009 legislation increased the maximum amount of income allowed in order to qualify for the property tax credit. The new income limit is $26,000, after certain deductions. The old income limit was $17,500.

“Raising the income limit makes the program available to more people than before,” said Fong. “We want to get the word out so that everyone who is eligible has a chance to apply for the credit.”

Other changes to the program include raising in the maximum value of the primary residence that may be exempted as well as increasing the value of assets allowed.

New Value Old Value
Maximum value of the primary residence that may be exempted: Up to $100,000 Up to $75,000
Maximum value of assets allowed, excluding the first $100,000 value of the residence: $75,000 $50,000

Homeowners may apply for the credit by completing the Homestead Credit Application for Senior Citizens and Disabled Persons and sending it to their local assessor or county director of tax equalization. For more information about the program or for the proper application, homeowners should contact their local assessor or county director of tax equalization.

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