The value of the state buy-down is a little over 0.6% of the home’s value, so if the plan worked, our tax would now be about 0.51%, which would put North Dakota in the wonderful position of third lowest property tax in the nation. The numbers tell a different story.Ĭonsider the Tax Foundation’s annual report showing that the average property tax in North Dakota in 2012 (before buy-downs) was 1.14% of the home’s true value, ranking 18th highest in the nation. A few legislators will tell us that although property taxes increased, they would be even higher if the buy-downs hadn’t occurred. The amount of property tax the state is paying on your behalf is proudly displayed in your county tax statement, labeled Legislative Tax Relief.ĭo you think your property taxes went down substantially over the last few years? Me neither. How do we know the buy-down approach is a failure? Consider that the Legislature has already been buying down your property taxes. The focus must be on something that gives true, long-lasting relief to the people of North Dakota.Ī state buy-down doesn’t fit that bill. Addressing property tax, therefore, should be a priority during a campaign, and the promises should be followed through with action during the legislative session. Legislators are quick to point out that property taxes are the No. Even the legislative proponents at the time have now declared it a failure. Although a very smart campaign strategy, this same buy-down plan has already been done in North Dakota, and it has failed miserably. Roscoe Streyle, running for House in District 3 in Minot, has a plan to reduce property taxes by 50% for two years.
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