Tax commissioner: implementing property-tax plan will be simple
Tuesday, September 26, 2006
The owner of a $100,000 house in Minot would save about $242 in property taxes under a Republican plan headed to the 2007 Legislature.
State Tax Commissioner Cory Fong, who assisted in developing the plan, held a news conference Monday in the Ward County Auditor’s Office in Minot to discuss how counties would implement the plan. If passed by the Legislature, the tax relief would affect property-tax bills that go out in December 2007.
Gov. John Hoeven, along with state Sen. Dwight Cook of Mandan and Rep. Wes Belter of Leonard, unveiled a plan last week that provides $116 million for property-tax relief. The plan reduces property taxes by subtracting 10 percent of the bill from residential tax statements and 5 percent from agricultural and commercial tax statements.
Homeowners would get breaks totaling $77 million, businesses $22 million, and farmers and ranchers $17 million over the 2007-09 biennium.
The state would write a check to counties to cover the deductions. County auditors would distribute the appropriate share of the state money to cities, park boards, townships, fire districts and other taxing entities.
“We tried to look for a plan that was simple, fair, easy to implement and, obviously, sustainable going forward,” Fong said. “This is meaningful, and it has impact.”
To read the full story visit http://www.minotdailynews.com/News/articles.asp?articleID=5757.
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