ND HB1390

Limits the annual increase in true and full valuation of any parcel of taxable property to the previous year's valuation, except for new improvements, unless voters approve a higher percentage increase by ballot measure.

Caps property tax levies by taxing districts at the previous year's dollar amount, with exceptions for newly taxable property, removed exemptions, property becoming non-taxable, and expired temporary mill levies.

Exempts from levy limitations: new property tax authority, bonded indebtedness taxes, state medical center levy, Garrison Diversion Conservancy District levy, debt obligation taxes, special improvement project taxes, and taxes under specified statute sections.

Allows taxing districts to exceed levy limitations upon voter approval of a ballot measure stating the proposed property tax levy increase percentage, valid for one taxable year at a time.

Prevents cities and counties from using home rule authority to supersede these property valuation and tax levy limitations.

Modifies school district state aid calculation to allow the sixty-mill subtraction to increase by a voter-approved percentage rather than being limited to a 12 percent annual increase.

Takes effect for taxable years beginning after December 31, 2019.