House, Senate majority leaders: Property and Income tax relief will be rolled into one bill
North Dakota’s House and Senate Majority Leaders say work is being done on a tax relief package that will include both income and property tax relief.
The House has passed three income tax relief measures. The Senate’s property tax plan would give relief by lowering the required local property tax effort to receive state school aid from 60 mills to 40 mills.
"Our cash position is one in which we're in a position to be able to return dollars to the taxpayers, which is extremely important," said Rep. Mike Lefor (R-Dickinson), the House Majority Leader.
Sen. David Hogue (R-Minot), the Senate Minority Leader, said the combination will be around $600 million.
"It's a very do-able number that no one is pushing back on," Hogue said.
Hogue said the Senate Finance and Taxation Committee will hear those three House bills, and pick what it likes.
"I think that committee will amend the bills, so that the income tax relief portion is close to $300 million," Hogue said.
Both leaders said final decisions will depend upon the March revenue forecast.