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ND SB2361
Bill
Status
Introduced
1/23/2023
Primary Sponsor
Dick Dever
Click for details
AI Summary
- Allows individuals to file an irrevocable claim freezing the true and full valuation of their primary residence for property tax calculation purposes in the subsequent taxable year
- Freeze remains in effect until the first full taxable year after the claimant no longer owns and occupies the residence or refinances the mortgage loan
- Freeze claimed by one co-owner is valid for the entire residence
- Defines "primary residence" as a dwelling in North Dakota owned and occupied by the applicant as their primary residence as of the assessment date, excluding farm residences exempt from property taxes
- Tax commissioner must prescribe and design forms for the freeze, which county directors of tax equalization must make available upon request; effective for taxable years beginning after December 31, 2022
Legislative Description
A primary residence valuation freeze for purposes of calculating property tax; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 2 nays 45
2/17/2023
Committee Referrals
Finance and Taxation1/23/2023
Full Bill Text
No bill text available