Senior citizen homeowners are expected to get property and income tax relief in North Dakota.
Senior Citizen Homeowners to Be Eligible for Property and Income Tax Relief Packages Following New House Bill
Some senior citizen homeowners aged 65 and above will be eligible for the new property and income tax relief packages following the passing of House Bill 1158.
The new house bill will give new property and income tax relief to the North Dakotans senior citizen homeowners; wherein for the property tax relief, each senior citizen homeowner will be eligible for up to $500, while for the income tax relief, the state’s lower tax bracket will be zero, and the top brackets will be combined into two to reduce the taxes.
The senior citizen homeowners will also receive the property tax relief depending on their residence, where eligible recipients in Bismarck making below $40,000 annually will get $4,575.
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New Property and Income Tax Relief Will Benefit Senior Citizen Homeowners in North Dakota
Some senior citizen homeowners in North Dakota expressed their gratitude for the new property and income tax relief, KFYR reported.
The new bill will also reduce the property and income taxes that senior citizen homeowners pay each year, saving them more money for other expenses or when they eventually retire.
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