North Dakota lawmakers close in on property tax relief | Kiowa County Press

(The Heart Sq.) – Lawmakers from either side of the Legislature are nearer to consensus on a invoice offering revenue and property tax reduction for North Dakotans.

As an alternative of mil levy buydown opposed by the Home, representatives proposed a brand new idea for property tax reduction on Friday that will revolve round main residences. Each main residential property proprietor would have the ability to apply for the credit score.

At first, it was proposed as a $500 tax credit score per main residence, however Sen. Jordan Kannianen, R-Stanley, proposed bumping it as much as $750.

Committee chair Rep. Craig Headland, R-Montpelier, mentioned it was a chance to offer “significant” property tax reduction to each residential proprietor within the states because it was broader and will assist extra individuals. 

“We simply suppose that it is a idea that we have talked about prior, however we have by no means actually gone so far as drafting one thing that really lays out how it might be applied,” mentioned Headland.

In response to the Tax Commissioner’s workplace, there are roughly 199,000 households in North Dakota, with roughly 62.5 % of households proudly owning their residence.

The six convention committee members wrapped up Friday morning’s assembly by agreeing to proceed to work on the property tax reduction idea proposed by the Home.

“I believe we’re getting quite a bit nearer,” Headland mentioned as they adjourned. “I believe we simply have the one revenue tax piece that we have to come to an settlement on.”

Governor Doug Burgum launched an revenue tax discount plan firstly of the session that will roll the tax price to 0 % for single filers with a taxable revenue of $44,725 and married {couples} with a mixed taxable revenue of $74,750.