Over 73,000 people from North Dakota have already applied for the property tax credit

Bismarck, North Dakota – This month, we brought you news on House Bill 1158’s new property tax credit.

Over 73,000 people have sought the credit so far, according to Tax Commissioner Brian Kroshus.

According to Kroshus, it’s a component of a three-pronged strategy for tax relief that gives residents their surplus money back. According to him, this is a reimbursement for local taxes collected, which are determined by county and city budgets.

This enables the state to reimburse the extra money that residents have contributed because there is an excess of it. According to him, this is among the best methods to support the state’s economy.

“One of the most efficient ways to stimulate our economy when you look at government and taxes is to not collect the funds to begin with. Then, those dollars stay in the pockets of citizens. Then, they translate to main street businesses where they make purchases that help support those businesses and people they employ,” said Kroshus.

According to Kroshus, they are still well short of the anticipated number of applications.

Although March 31 is the deadline for applications, he stresses that it’s best to submit them as soon as possible.

The credit will be deducted from what is owed and appear on their property tax statement for 2024.

Go to the website of the N.D. Tax Commissioner for additional details.