ND HB1248

Legislative management shall study the feasibility and desirability of replacing the current property tax structure for residential and commercial property with a price per square foot taxation method during the 2023-24 interim.

The proposed new taxation method would be based on the amount levied in the previous taxable year, with annual adjustments to allow for increases in the price per square foot.

Study must review the current property tax system, equalization and abatement processes, taxing district budget determination, implementation and administration of the new method, and taxpayer impacts.

Study must include a review of other states that calculate property tax on a price per square foot basis.

Legislative management shall report findings, recommendations, and any required implementing legislation to the sixty-ninth legislative assembly.