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Published May 15, 2012, 10:17 PM

North Dakota Measure #2 considered one of the most important votes in state history

Fargo, ND (WDAY TV) - It's been called one of the most important votes in North Dakota state history. In less than a month, voters will decide whether or not to abolish property taxes.

It's been called one of the most important votes in North Dakota state history. In less than a month, voters will decide whether or not to abolish property taxes.

What is Measure 2? Who will be affected? And what kind of dollar figures are we talking about? Simply stated, Measure Two completely abolishes all property taxes in North Dakota.

In 2010 numbers, according to the state Tax Office, North Dakota generated just more than $816 million in property taxes. Currently 45% of taxes go to schools, 30% to counties, and 21% cities.

If Measure 2 passes, the legislature will need to devise a formula for how to divvy out taxes to schools, cities and counties. Oil and gas production and extraction, tobacco and financial institution taxes, as well as lottery revenue would pay for K-12 education. Sales, individual and corporate income, insurance premium, alcohol and gaming taxes will go to counties, cities and other political subdivisions.

Measure Two isn't the only thing on the ballot. Both supporters and those against abolishing property taxes are waiting how the Fighting Sioux Nickname will affect the voter demographic and turnout. The vote is June 12th.

Wednesday we'll hear from supporters of Measure 2, including a family who has seen their property taxes double in just the last few years. Then on Thursday, we'll hear from those against the measure. Find out why they believe the measure could ruin North Dakota.

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