ND HB1272

Property taxes levied by a taxing district may not exceed by more than three percent the amount levied in the preceding taxable year on any parcel of taxable property

Additional taxable valuation from property improvements or newly incorporated territory is exempt from the three percent limitation

Property tax exemptions that are reduced or eliminated in the current year are not subject to the limitation, as are expired temporary mill levy increases authorized by electors or state law

New or increased mill levies authorized by state law or electors and irrepealable taxes for bonded indebtedness are exempt from the three percent limitation

Taxing districts may supersede this limitation only upon approval by a majority vote of electors at a regular or special election; the limitation is effective for taxable years beginning after December 31, 2010