Homestead credit program moving through ND legislature

A property tax relief measure designed to expand North Dakota’s Homestead Tax Credit program received its first hearing before the House Finance and Taxation Committee this week.

The current program has several income thresholds – but Senate Bill 2136 increases the income limit to $100,000 dollars. Those over the age of 65 or are disabled would be eligible for a full $9,000 credit.

During testimony bill sponsor Senator Judy Lee urged the committee to consider making a few changes – including adding an asset limit or a graduated income level to the credit. Lee says the goal is to help homeowners with a moderate income – not those with $2 million dollars in assets.

The legislation would appropriate $135 million dollars to support the program.

The committee took no immediate action on the bill.