North Dakota HB1575 amends property tax laws to redefine primary residence, establish new valuation reductions, and adjust certification processes.
North Dakota HB1575 amends the North Dakota Century Code to redefine primary residence, establish new valuation reductions for primary residential, agricultural, and commercial properties, and adjust certification processes. A primary residence is defined as a dwelling used as a primary place of residence by an owner or beneficiary of a qualifying trust. The bill introduces a three percent reduction in taxable valuation for primary residential property, applied before other credits.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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