Fong Proposes Clear Plan for Property Tax Relief

I hope you will take the time to read this Letter to the Editor from today's Bismarck Tribune.

While his opponent just talks, Cory Fong has put forward a plan to reduce property taxes.

Cory Fong is getting the job done as Tax Commissioner


Bismarck Tribune

Tax relief plan fair, sustainable

By CORY FONG
Bismarck

North Dakota is in the midst of an economic resurgence. Virtually every business sector is growing. Despite the drought’s impact on agriculture, North Dakota’s economy is expected to grow for years to come.

As a result of the strong economy and sound fiscal management, North Dakota has the resources to invest in our priorities like job creation, education and caring for our elderly, without raising taxes. We are in a position to provide, for the first time, direct property tax relief for our families, seniors, farmers and small businesses.

Since being appointed tax commissioner just over a year ago, I have spent a great deal of time and energy working with the governor’s office and legislative leadership to develop a property tax relief plan. I made the issue the centerpiece of my speech at this year’s North Dakota Republican Convention in April.

On Tuesday, we unveiled the fruits of our effort. Our plan will provide for direct property tax relief. It’s not just more government spending with the hope that it trickles down and lowers property taxes, but direct property tax relief that is fair, easy to understand and implement, maintains local control and is sustainable without future state sales or income tax increases.

Our plan provides $116 million in direct property tax relief to the people of North Dakota through a 10 percent reduction in residential property taxes and 5 percent reduction in agricultural and commercial property taxes. The amount of the relief will be subtracted from your county’s annual property tax bill, and the state will reimburse the county for the amount of your property tax relief.

For example, a homeowner with a $120,000 home will get an average of $217 credited a year on their property tax bill. The owner of a 1,300-acre farm or ranch will get an average of $372 credited. And a business owner with a $300,000 commercial property will get an average of $300 credited.

In addition to the efficient, effective management of our agencies, the No. 1 job for all elected officials must still be the creation of more well-paying jobs. With those jobs will come an even stronger economy and more money to invest in our priorities, including much needed property tax relief.

As tax commissioner, I am working hard every day to make North Dakota an even better place to live, work, and raise a family.

(Fong is running for election as tax commissioner in the November election. — Editor)