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Last modified: Thursday, October 29, 2009 3:59 PM CDT
ND lawmakers exploring property tax credits
BISMARCK, N.D. (AP) — North Dakota lawmakers are exploring the idea of providing a “homestead” property tax credit for all homeowners.
The credit would reduce the property tax bill for a North Dakota taxpayer’s primary residence.
One possible goal is to limit homeowners’ property tax bills to 1.5 percent of the market value of their homes. The current statewide average is about 1.9 percent.
Fargo Representative Jim Kasper says the tax break could be limited to residential property that is not used to produce income.
North Dakota already offers a homestead property tax credit to low-income seniors and people with disabilities. The proposal being discussed would expand the credit.
The Legislature’s interim Taxation Committee discussed the proposal Thursday. It will be studying the idea.
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