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State will pay a portion of everyone's property tax

While property taxes in Kenmare are scheduled to go up this year, city accountant Jan Kostad noted a tax break for local citizens.

10/09/13 (Wed)

By Caroline Downs

While property taxes in Kenmare are scheduled to go up this year, city accountant Jan Kostad noted a tax break for local citizens.

The 2013 state legislative session included a bill passed to grant some immediate property tax relief for the next two years. “The state legislature said the state will pay 12 percent of everyone’s property taxes,” Kostad said. “That’s for residential, agricultural and commercial property.”

According to information Kostad has received so far from Ward County, the county auditor’s office will calculate the full amount to be levied on each property in the county. Those levies will be reported to the state, with the state then paying the 12 percent portion back to the counties.

Kostad said the tax statements sent to individuals and businesses will be recalculated, with the adjustments made to reflect the portion paid by the state.

“The reduced amount will be shown on the statements,” he said.

Major changes in
Homestead Tax Credit
Kostad also emphasized significant changes made during the 2013 legislative session to the Homestead Tax Credit available to senior citizens or disabled persons living in North Dakota.

For homeowners ages 65 and older, taxable value can be reduced from 10 to 100 percent for incomes up to $42,000 per year and assets up to $500,000.

Similar benefits are available for renters ages 65 or older and for disabled individuals.

Previous requirements for the tax credit were an annual income up to $26,000 and assets of $75,000.

“That’s a major change,” said Kostad. He encouraged eligible property owners or renters to take advantage of the opportunity to reduce their taxes.

The one-page application for the tax credit must be filed with the local assessor before February 1st of the year for which the credit is requested. Further details and applications for the Homestead Tax Credit are available from the Office of the State Tax Commissioner in Bismarck or online at www.nd.gov/tax/property/homesteadtaxcredit/.

Kenmare area residents are also welcome to contact Kostad at 701-385-4263 with questions about the Homestead Tax Credit.

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