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2013 Legislature at a Glance

2013 Legislature at a Glance. Property Tax Relief. HB 1013 (DPI Budget). Education Funding Overhaul & Property Tax Savings Overhaul of North Dakota K-12 funding formula Integrates funding for MLRG program into the school funding formula

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2013 Legislature at a Glance

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  1. 2013 Legislature at a Glance

  2. Property Tax Relief

  3. HB 1013 (DPI Budget) • Education Funding Overhaul & Property Tax Savings • Overhaul of North Dakota K-12 funding formula • Integrates funding for MLRG program into the school funding formula • Restructures local school districts funding level • New local school district general fund cap of 70 mills • Reduces local property tax support for school funding • Reorganizes 19 separate miscellaneous school mill levies

  4. HB 1013 (DPI Budget) • Education Funding Overhaul & Property Tax Savings • Estimated cost to state = $657M

  5. SB 2036 (Interim Bill) • Property Tax Credit • Based on percentage of property taxes • Companion to HB 1013 • $200M • 12% credit against remainder of property tax bills

  6. Property Tax Reform & Misc. Changes

  7. Property Tax Reform SB 2036 • Notices of increased assessments of 10% and $3,000 or more to be prescribed by Tax Commissioner and: • State that assessment increases do not mean tax increases; • State that each taxing district must base its tax rate on the number of dollars required to raise the same amount from property taxes in the prior year; and • Not show an estimate of the tax based on the assessment increase. • New notice required if the taxing jurisdiction intends to impose a tax levy greater than what the taxing district would have to levy in order to raise the same dollars raised from property taxes in the prior year. • Legislative tax relief shown on property tax statements • Property tax statements to be prescribed by the Tax Commissioner and required to show legislative tax relief from HB 1013 & SB 2036

  8. Property Tax Reform • HB 1046 – Allows governing bodies to revoke or reduce new and expanding property tax exemptions or PILOTs if project is not meeting requirements. • SB 2314 - Puts restrictions on property tax exemptions for non primary sector businesses.

  9. Questions? Contact us: Office of State Tax Commissioner Cory Fong, Tax Commissioner • www.nd.gov/tax • www.nd.gov/tax/property • E-mail: taxinfo@nd.gov • Office of State Tax Commissioner 600 E. Boulevard Avenue, Dept 127 Bismarck ND 58505-0554 • Phone: 701.328.3127 • Fax: 701.328.3700

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