Gov. Armstrong Signs Property Tax Relief and Reform Package

(North Dakota Monitor)

(KNOX) – Gov. Kelly Armstrong  joined bill sponsors and other legislators as he signed a landmark property tax relief and reform package to ease the burden on North Dakota homeowners and limit growth in local spending.

“It ended up being an unbelievably great and historic package that is going to have real, meaningful results for the citizens of North Dakota, particularly primary residential homeowners,” Armstrong said during today’s bill signing ceremony at the Capitol. “This was an absolute team effort – both chambers, Governor’s Office, both parties, everybody recognized that property tax relief was the No. 1 priority we had to accomplish this legislative session. And I think we came up with a really, really great package.”

House Bill 1176 passed the state House 86-4 and the state Senate 46-0. The bill more than triples the state’s existing primary residence property tax credit from $500 per year to $1,600 per year. A dedicated stream of earnings from the state’s $12 billion Legacy Fund will pay for the relief, estimated at $409 million in the 2025-2027 biennium.

This earnings stream will grow as the Legacy Fund grows, allowing the size of the tax credit to be increased in future sessions.

Armstrong thanked lawmakers for going beyond the $1,55