The state Senate has passed a pair of property tax relief measures.
SB 2066 boosts state aid to local schools, and lowers the required local property tax for schools from the current 60 mills to 40 mills.
"Senate Bill 2066 is a good bill," said Sen. Mark Weber (R-Casselton). "It will provide millions of dollars of property tax savings to property owners across the state."
Weber said property tax relief is what voters are asking for.
The fiscal note on that bill is $203 million.
A second bill – SB 2136 – expands the eligibility for the homestead tax credit. That’s available to anyone 65 or older – but current law has several income thresholds. The bill makes it one income threshold of $100,000, and any eligible person who makes under that level would be eligible for the full $9000 credit.
"This program was seen by your Finance and Tax Committee as a good vehicle for targeted tax relief this session," said Sen. Jordan Kanninen (R-Stanley). "It targets primary residences, which is real estate that is not income-producing., and for those individuals that we want to insure can stay in their homes in their retirement years."
That bill passed on a 45 to 1 vote. Both will now be considered in the House.
