Bill > HB1474

This bill directs the Legislative Management to conduct a comprehensive study of property tax reform for residential property during the 2025-26 interim period. The study will examine the current property tax system for residential properties, exploring potential alternative taxation methods, such as replacing the existing ad valorem (value-based) tax system with a price-per-square-foot approach. Specifically, the study will review current property assessment procedures, the equalization and abatement process, and how taxing district budgets are determined. It will also analyze methods to limit the growth of residential property values, considering both the advantages and disadvantages for property owners and taxing districts. The research will investigate the potential implementation of a square-foot-based taxation method, including its impact on taxpayers and local jurisdictions, potential unintended consequences of transitioning from the current system, and strategies to mitigate those consequences. By the end of the interim, the Legislative Management is required to report its findings and recommendations, along with any proposed legislation, to the 70th Legislative Assembly, providing a detailed roadmap for potential property tax reform.

Budget and Finance

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1474.html