“I think that no matter what side of the aisle you fall on or what your political beliefs are, we can all agree that property taxes in North Dakota are burdensomely high for our state’s residents. The issue of paying a property tax that can increase while your income might decrease is hard for a lot of our citizens to stomach,” Senator Taylor stated during a press conference today in Fargo.
“People are concerned and this concern has led to public outcries for meaningful property tax relief. Unfortunately, those cries have gone unanswered by both the Republican legislature and the Governor.” Taylor continued.
Taylor’s plan calls for relief through three components – residential property tax reduction, a renter’s credit, and an agricultural property tax credit for farms.
“This plan uses existing, proven mechanisms, like the homestead tax credit, that are simple and understandable. As Governor, I would push for a reduction of $100,000 of the true and full valuation of a person’s primary residence, with the same reduction applied to farm property. It’s also important that we get renters some relief as well, which is why my plan proposes a renters income tax credit that is 15 percent of an individual’s annual rent with a maximum credit of $900 for a year.”
“If you make your home here in North Dakota, it will be a priority in a Taylor administration to get you the relief you need. We will take care of our own. This relief would be paid for with funds from our state’s surplus, ensuring that we do not diminish political subdivision property revenues. This would make certain that our local communities are still receiving the benefits that they pay for when they pay their property taxes and not sacrificing the excellent local services we have come to expect, or the local control we take great pride in.”