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North Dakota ranks in the top ten for lowest property taxes

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(The Center Square) – North Dakota outpaces its neighbors in having a competitive property tax structure, ranking in the top ten nationally, according to a report.

North Dakota placed 9th overall in the Tax Foundation’s analysis of states’ property taxes, which examines state and local taxes on real and personal property, net worth, and asset transfers.

The state improved its score, jumping one spot up from last year’s assessment.

Property taxes are set to improve even more for North Dakotans after Gov. Doug Burgum signed a bill that brings $515 million in tax relief, including a $500 tax credit on primary residences.

Lawmakers haggled over the tax relief details in House Bill 1158 in over ten conference committee meetings during this past legislative session. The bill also dropped the income tax to the lowest rate in the nation among states that tax individual income, according to Burgum. Originally, Burgum proposed a flat tax.

Among other property tax relief measures passed is a 100% reduction of the taxable valuation of a homestead deduction for residents 65 and older who make less than $40,000 a year. Those making $40,000 to $70,000 yearly will be eligible for a 50% reduction.

“States are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers,” the Tax Foundation said in its report.

North Dakota does not tax personal property except for certain oil and gas refineries and utilities. And while the state does have an estate tax law, estate taxes are no longer paid to North Dakota due to the Federal Congressional Budget Act Sunset Law, according to the Tax Commissioner’s office.

States with the best scores on property taxes were Indiana, New Mexico, Idaho, Delaware, and Nevada. Those with the worst were Connecticut, New York, Vermont, Maine, Massachusetts, New Jersey, and the District of Columbia.

The second highest among the states neighboring North Dakota was South Dakota, which ranked 14th.

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