ND HB1461

Caps annual property tax levy increases by taxing districts at 5 percent without voter approval, effective for taxable years beginning after December 31, 2022.

Allows taxing districts to exceed the 5 percent cap only upon approval by 60 percent of qualified electors voting on a ballot measure, limited to one taxable year at a time.

Exempts from the levy cap: new tax authority, bonded indebtedness taxes, state medical center levy, Garrison Diversion Conservancy District levy, special assessment obligations, and certain statutory levies.

Adjusts baseline levy calculations to account for newly taxable property, eliminated exemptions, property becoming non-taxable, and expired temporary mill levy increases.

Modifies school district state aid calculations by changing the allowable levy increase cap from 12 percent to 5 percent, or a higher percentage approved by 60 percent of school district electors.