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ND SB2302
Bill
Status
1/20/2015
Primary Sponsor
Jim Dotzenrod
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AI Summary
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Increases the maximum homestead credit limit for special assessments from $6,000 to $15,000 per property.
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Changes the interest rate on liens from 9 percent per year to 6 percent per year for new credits, while keeping 6 percent for existing liens after December 31, 2015.
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Reduces the lien amount by a percentage equal to one-half of the percentage reduction in taxable valuation the claimant receives under the homestead property tax credit.
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Maintains existing lien procedures requiring county auditors to file notices of lien and preventing property deed recording until liens are satisfied, with exceptions for spousal transfers due to death.
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Effective for taxable years beginning after December 31, 2015.
Legislative Description
The homestead credit for special assessments; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 13 nays 34
2/13/2015