North Dakota HB 1277: Relating to a residential property tax exemption for new construction; and to provide an effective date.

Bill Text

21.0737.03000
Sixty-seventh
Legislative Assembly
of North Dakota
Introduced by
Representative Schreiber-Beck
A BILL for an Act to amend and reenact subsection 35 of section 57-02-08 of the North Dakota
Century Code, relating to a residential property tax exemption for new construction; and to
provide an effective date.
BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
SECTION 1. AMENDMENT. Subsection 35 of section 57-02-08 of the North Dakota
Century Code is amended and reenacted as follows:
35. Up to onetwo hundred fifty thousand dollars of the true and full value of all new
single-family and condominium and townhouse residential property, exclusive of the
land on which it is situated, is exempt from taxation for the first two taxable years after
the taxable year in which construction is completed and the residence is owned and
occupied for the first time if all of the following conditions are met:
a. The governing body of the city, for property within city limits, or the governing
body of the county, for property outside city limits, has approved the exemption of
the property by a resolution approved by a majority of the qualified electors voting
upon the question at a regular or special election. A resolution adoptedapproved
under this subsection, and each subsequent resolution, remains in effect for ten
taxable years, or the time period approved by the voters, whichever expires first,
and may be rescinded or amended at any time. The governing body of the city or
county may limit or impose conditions upon exemptions under this subsection,
including limitations on the time during which an exemption is allowed.
b. Special assessments and taxes on the property upon which the residence is
situated are not delinquent.
SECTION 2. EFFECTIVE DATE. This Act is effective for taxable years beginning after
December 31, 2020.
Page No. 1 21.0737.03000
ENGROSSED HOUSE BILL NO. 1277
FIRST ENGROSSMENT
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