Property Tax Reforms Not Fairing Well So Far

SB 2066 is a minor attempt to offset local school property tax bills, and has the best chance of passage, but does not equate to permanent property tax reform.

The legislature is having trouble finding the political will and intestinal fortitude to genuinely reform property taxes.

SB 2066 seems to be the most likely vehicle out of the State Senate on property taxes. It has been watered down to a 16.7% state-funded offset from its original version which was a 25% offset. According to the latest fiscal note, the bill would equate to just over a $200 million reduction in local school property taxes with higher state-share funding.

This bill was approved by the Senate by a vote of 42-4.

This approach is no different than the approaches used in the past - which Governor Burgum has stated have cost over $7.5 billion dollars over the last 15 years, but people realize has not done as promised.

Reaction to Governor 's State of the State Address

As will all previous efforts to “buy down” property taxes, this leaves plenty of room for property taxes to still increase substantially because of the way that mill levies and property valuations interact. Legislators just can’t seem to get past their old way…