North Dakota Senate Bill SB2387

North Dakota 2023-2024 Regular Session

• Introduced: 1/23/23
• Refer: 1/23/23
• Report DNP: 2/16/23

Caption

A BILL for an Act to provide for a legislative management study relating to property tax reform.

Impact

The bill's potential implications on state law revolve around the way property taxes are assessed in North Dakota. By studying graduated assessments, the legislative management aims to evaluate how such an approach could provide relief to homeowners while maintaining revenue for public services. This could result in significant changes to how property taxes are calculated and might lead to proposals for future legislative action based on study findings.

Summary

Senate Bill 2387 seeks to initiate a legislative management study focused on property tax reform, specifically exploring the feasibility of implementing graduated property assessments. This concept involves assessing properties at a base value and allowing for annual increases in property valuation rates. The intention behind this bill is to assess potential reforms in the property tax system that could lead to a more equitable distribution of tax burdens among property owners.

Sentiment

Overall, discussions around SB 2387 reflect a cautious optimism among supporters who see the benefits of reforming tax structures to better reflect the changing economic landscape. However, there is also a level of skepticism regarding the actual implementation of graduated assessments and whether they might complicate existing tax systems rather than simplify them. Some stakeholders, particularly in property management and local governance, have expressed concerns about the unpredictability of graduated assessments on tax revenues.

Contention

Notable points of contention include whether graduated property assessments truly address the fundamental issues of property taxation or if they simply transfer the tax burden in ways that may not be beneficial for all property owners. Legislators will need to grapple with these concerns while examining data and feedback from the legislative study. The voting history indicates some division on the bill, with the most recent Senate vote showing 22 in favor and 25 against, highlighting that property tax reform remains a contentious topic among lawmakers.