A BILL for an Act to amend and reenact subsection 8 of section 57-02-27.2 of the North Dakota Century Code, relating to valuation and assessment of agricultural lands; and to provide an effective date.

HB 1508 amends North Dakota's property tax assessment rules for agricultural lands. It requires local assessors to determine each parcel's agricultural value using three specific factors in order of importance: the actual land use (cropland or noncropland), soil type data, and county-approved adjustment modifiers. The bill also mandates that assessors provide written evidence if their valuation differs substantially from the county director's estimate. This change directly affects agricultural landowners and local tax assessors by standardizing how farmland is valued for property tax purposes. The policy takes effect for taxable years beginning after December 31, 2024.