FARGO, ND (Valley News Live) – For homeowners in North Dakota, you may see some changes to your taxes as Measure 4 will end state property taxes.

If approved, the state would need to replace more than $1.3 billion starting next year. The elimination of property taxes will be a first for the state. Some want to preserve it because it helps fund essential services like schools and public safety.

“Listeners need to understand that this is not just property tax relief for residential property taxes. These are also commercial properties, right? So about $1.3 billion is out-of-state businesses. That money goes out of the state. “Someone will have to recoup that $1 billion somehow, and it will most likely be those of us who live in North Dakota,” he said. Support the Local Coalition.

Group End to Unfair Property Tax More than 40,000 signatures were left at the state capitol to get the measure on the ballot. In fact, only 32,000 people were needed to get on the ballot. The group’s Rick Becker says the government could fund the $1.3 billion cap.

“We know there are budget surpluses. The legislative council has already acknowledged a $700 million surplus in the general fund. So we take the excess revenues, the wasted money, the wasted money, put it all together, change the property tax, and let people keep what they want in their pockets. We are paying property taxes right now,” Becker said.

The legislative session and the ongoing $500 mortgage loan will look different if property taxes expire. There will be nothing to which the credit will apply and credits will not be refunded. These are a deduction from the existing property tax bill.

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