North Dakota’s property tax reform bill passes

North Dakota’s property tax reform bill HB 1176 received unanimous approval from the Senate Finance and Taxation Committee on Monday. The bill will increase primary residence tax credit from $500 to $1,450 in 2025, expand homestead tax credit eligibility for seniors, raise maximum renter’s refund from $400 to $600, and implement a 3% cap on property tax levy increases for most taxing districts. The levy cap faces opposition from smaller municipalities concerned about budget constraints. The bill competes with two alternatives that would change property value calculations or increase state funding for schools.