ND HB1474

Legislative management shall study residential property tax reform during the 2025-26 interim, examining feasibility of limiting taxable valuation increases and replacing current property taxes with a price per square foot taxation method

Study must review the current residential property tax system, including assessment procedures, equalization and abatement processes, and how taxing district budgets are determined

Analysis required on methods to limit residential property value growth, weighing advantages and disadvantages for both property owners and taxing districts

Study must evaluate implementation of square-foot-based taxation, including impacts on taxpayers and taxing districts, potential unintended consequences of transitioning from ad valorem taxation, and mitigation approaches

Legislative management shall report findings, recommendations, and any implementing legislation to the 70th Legislative Assembly