ND lawmakers: Property tax cut plan excludes someBISMARCK, N.D. (AP) — Some North Dakota lawmakers say a new plan for cutting property taxes excludes some major property tax payers.
BISMARCK, N.D. (AP) — Some North Dakota lawmakers say a new plan for cutting property taxes excludes some major property tax payers.
The Legislature's interim Taxation Committee is mulling the idea. It would provide a tax exemption for the first $75,000 of value for a North Dakota taxpayer's primary residence.
In Bismarck alone, the plan would cut the property tax on a $150,000 home from $2,100 to just over $1,000.
However, the plan would only benefit homeowners. House Democratic leader Jerry Kelsh of Fullerton doesn't like that farm property is excluded.
House Republican Finance and Taxation Committee chairman Wes Belter of Fargo says all types of property should share in tax relief.
The interim committee hasn't voted on the bill, and members will debate it again later.
Copyright 2012 The Associated Press.