Property Tax Relief Approved

North Dakota Governor Kelly Armstrong signed a property tax relief bill Saturday. “We thank the Legislature for advancing a bill with meaningful tax relief and reform,” said Armstrong. The bill increases the existing primary residence property tax credit from $500 per year to $1,600 per year. Earnings from the state’s Legacy Fund will pay for the relief. The bill also includes a three percent cap on future increases in local property tax budgets. Senate Agriculture Committee Chair Larry Luick expressed disappointment in the lack of direct relief for farmers and agricultural landowners. “A lot of them that are in charge of this were saying that the ag industry is getting enough because they’re giving a lot of funding toward township and county road projects,” Luick said. “Well, that doesn’t come back to the farmer or the landowner, that’s an infrastructure need the state should be somewhat compliant to pay for.” The bill signed into law directs the next legislature to consider broad-based tax relief.