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Property Tax Relief (Senate Bill 2032)
Property Tax Relief for Individuals
- The 2007 Legislature authorized the property tax relief for two years (based on property taxes for 2006 and 2007, payable in 2007 and 2008). The relief is provided in the form of a credit to be claimed on 2007 and 2008 Individual Income Tax returns or special schedules.
- The credit is equal to ten percent of your residential and agricultural property taxes, up to a maximum credit of $500 ($1,000 for married filing jointly).
- Mobile home taxes due in 2007 and 2008 also qualify.
- The credit is claimed on your Individual Income Tax return (or a special schedule if you are not required to file an Individual Income Tax return).
- The credit is only available if your primary residence is in North Dakota.
- If you rent, the credit is not available to you, unless you also own property in North Dakota (the credit is allowed only for the owned property).
- If your allowable property tax credit exceeds your income tax liability, you can choose to carry forward the unused credit for up to five years.
- As an alternative to the carry forward provisions, you can choose to receive a certificate for the unused portion of your credit. Certificates are issued by the Office of Tax Commissioner and are redeemable with all County Treasurers.
- You make your choice to carry forward or receive a certificate for unused credits on your Individual Income Tax return or special schedule.
- If you own commercial property, you are entitled to a separate credit (see Property Tax Relief for Businesses).
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