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Tax Time

Sep 11, 2012 at 12:38 pm

     North Dakota lawmakers say they want to continue a program that reduces local property taxes.
 
     The Legislature's interim Taxation Committee voted Tuesday to support paying subsidies to school districts. The schools use the money to reduce their property tax rates.
 
     For many North Dakotans the program has meant a 15 percent reduction in their property tax bills.
 
     The committee has considered several alternatives for cutting property taxes. But Mandan Sen. Dwight Cook says the current program has worked well.
 
     The cost of the property tax subsidies is now $342 million over two years. The price tag is likely to rise to more than $400 million during the state's next two-year budget period.
 
     The subsidy amount is increasing because of a rise in property values.

 

(AP)

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