HB 1057 Summary

• Creates section 57-02-53 requiring assessors to notify property owners in writing when property valuations increase by $3,000 or more and 10% or more from the previous year's assessment, with notice delivered at least 15 days before the local board of equalization meeting.

• Notification must include the current year and previous year's true and full values and can be delivered by personal delivery, mail, or email with verified receipt; the tax commissioner shall prescribe standard forms for notices.

• Limits township and city boards of equalization to a maximum 15% cumulative increase in property valuation without providing reasonable notice and opportunity for the owner to be heard; county boards limited to 15% cumulative increases with similar notice requirements.

• Requires assessment increase notice forms to include a statement informing taxpayers that assessment increases do not automatically mean property taxes will increase and may not contain estimated tax increase figures.

• Effective for taxable years beginning after December 31, 2015; directs legislative management to study property tax information delivery timing and contents during 2015-16 interim and report findings to the 65th legislative assembly.