Finance and Taxation

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.

Relating to the sale of raffle boards; and to amend and reenact subsection 3 of section 53‑06.1‑14 of the North Dakota Century Code, relating to affixing a North Dakota gaming stamp.

Relating to a property tax exemption for buildings and land belonging to institutions of public charity; and to provide an effective date.

Relating to an individual income tax credit; to amend and reenact sections 57‑38‑30.3 and 57‑38‑75 of the North Dakota Century Code, relating to the imposition of a flat income tax rate of one and ninety-nine hundredths percent for individuals, estates, and trusts and rounding rules; to repeal section 57‑38‑01.28 of the North Dakota Century Code, relating to the marriage penalty credit; and to provide an effective date.

Filed with Secretary Of State 04/22