The Senate has passed its version of property tax relief.
The bill continues the mill levy buydown program, using oil tax money. It also creates a “second” homestead tax credit – so that every homeowner is eligible to have the tax on the first $25,000 of the value of the house paid for by state funds. The bill has a price tag of $403 million.
The House version of property tax -- which has not yet come to the floor -- ties property tax relief to funding for schools.
"I think that's something that has merit," said Sen. Dwight Cook (R-Mandan), the chairman of the Senate Finance and Taxation Committee. "I think that's something we would all like to see happen. I think that's something that's going to be challenging."
Cook said if the Legislature adopts the House version, then the Senate bill isn't needed. But Sen. Jim Dotzenrod (D-Wyndmere) is hoping the second homestead tax credit remians.
"I think a lot of the problems we saw with Measure Two, and a lot of the anxiety and insecurity some homeowners feel has to do with the situation they're in in their home," said Dotzenrod. "This could be a real important part of what we do when we're finally done."
The bill passed the Senate unanimously – and will now be considered in the House.
