Real Estate Taxes

[scrotcaster]

Market value is driving it for them. I don't know of the ND system specifics, but in SD we just passed a limitation on valuation increases. But, my house has well over doubled in value in 10 years, and that isn't on paper. I could literally sell it today for well over double what I paid. That alone is incredible and didn't just pop up since they floated the idea of a max. percentage increase. I have no idea how this pace can continue as it's essentially not viable for much of the working population in my area.

SD played with a lot of ideas this session and the underlying truth that kept appearing was that the revenue had to come from somewhere. We don't have an income tax, give tax exemptions to huge industries in the state, and have reduced our sales tax in recent years. We don't spend frivolously either. The bottom line is that we need XX amount to keep the state running and nobody can settle on an alternative to property taxes. But we are sitting on a pot full of gold like you Nodak folk are either LOL. When the legislature meets, there is never much talk of cutting. It's always add or add money to maintain. That isn't changing and I doubt our property tax system will either.

In ND, all the residential and commercial assessed values have to be within 85% (i believe) of what the sales prices are. If this doesnt happen, and the assessed values lag behind the sales prices greater than that., The state tax dept. steps in and raises all valuations on every home/commercial properties within the jurisdiction to get them within compliance. That is why your values get increased.
Where this is a problem, lets use Bismarck for example. Lets say that the homes along the river are selling for way more than they are assessed for (50%) but the remainder of homes off river are assessed at 95%. The state then raises everyone to come into compliance.

 

[Paddledogger]

Property values just came out here in Dickinson. Ours homes value went up $66,800 in one year.

So glad we voted to keep property taxes.

They spoke of giving us a $1,400 kick back of our money, so they just clobber us from the back side.
Effn politicians suck

Got the same notice in the mail. Ours is going up $74K....last year was $62K increase. Them sons a bitches.

 

[KDM]

What everyone needs to realize is that property taxes are based on UNREALIZED gains. It's all made up numbers. It's taxing you on money you have NEVER had in your pocket. Property taxes should be based on what you paid for your home and not one cent more and never increase or decrease until you sell it IMO. That is the true value of property. Increasing your property value and then taxing you on it has to be the biggest scam ever and people just roll over for it. People should also only be able to borrow against what they bought property for and not this inflated value, but you can't fight greed I guess. Carry On!

 

[Trip McNeely]

I want to know how there hasnt been a single lawyer or team of lawyers that hasn’t taken up a class action suit against the state or local subdivisions at this point. I’d think this would be an easy case to win as taxing unrealized capital gains is not legal. This is a cut and dry taxation of an unrealized capital gain. No different than if they taxed a stock or any other unrealized asset class. Unconstitutional and illegal. And using the defense of “well how are we gunna pay for shit” isnt a valid reason for anything. It’s called theft at that point.

 

[Trip McNeely]

Haha KDM beat me to it by a millisecond

 

[Colt45]

What everyone needs to realize is that property taxes are based on UNREALIZED gains. It's all made up numbers. It's taxing you on money you have NEVER had in your pocket. Property taxes should be based on what you paid for your home and not one cent more and never increase or decrease until you sell it IMO. That is the true value of property. Increasing your property value and then taxing you on it has to be the biggest scam ever and people just roll over for it. People should also only be able to borrow against what they bought property for and not this inflated value, but you can't fight greed I guess. Carry On!

this is exactly right, been saying this for a long time, California does its property tax this way
you pay tax on what you originally paid for your home, dont care if that is 30 years ago, and it doesnt change for as long as you own your home

 

[Fester]

I want to know how there hasnt been a single lawyer or team of lawyers that hasn’t taken up a class action suit against the state or local subdivisions at this point. I’d think this would be an easy case to win as taxing unrealized capital gains is not legal. This is a cut and dry taxation of an unrealized capital gain. No different than if they taxed a stock or any other unrealized asset class. Unconstitutional and illegal. And using the defense of “well how are we gunna pay for shit” isnt a valid reason for anything. It’s called theft at that point.

Politicians are usually lawyers......politicians want tax money......

 

[Jiffy]

So you say you’re a politician AND a lawyer? Stay out of my air space. You’re polluting it!

 

[Wirehair]

We received notice as well that our home has increased in value by 78k. We live in a relatively small home south of Bis on the river. I predict / hope that another, better written, initiative measure will re-surface that provides property tax relief for primary residence of ND residents. We continue to watch our legislature and commerce department provide 100's of millions in the name of corporate welfare to friends and cronies and offers little in the way of meaningful property tax relief.

 

[Fester]

I am neither...thank god

 

[Jiffy]

I know. I was speaking in general terms.

 

[Twitch]

We received notice as well that our home has increased in value by 78k. We live in a relatively small home south of Bis on the river. I predict / hope that another, better written, initiative measure will re-surface that provides property tax relief for primary residence of ND residents. We continue to watch our legislature and commerce department provide 100's of millions in the name of corporate welfare to friends and cronies and offers little in the way of meaningful property tax relief.

I predict it gets voted down…again. No matter how it’s written

 

[Zogman]

I predict it gets voted down…again. No matter how it’s written AGREE!

Yup. Because of scare tactics that are used and will be used again and again!

 

[bravo]

I predict it gets voted down…again. No matter how it’s written

I think it has a good chance as long as it’s written as primary residence only. The fact they wouldn’t pivot to that leads me to believe there was an alternative motive for Dr. Becker.

 

[Fester]

Yup. Because of scare tactics that are used and will be used again and again!

Because people are flat out dumb..and by dumb i mean fear of the unknown...which makes them dumb...hide in a shell.

 

[Fester]

I think it has a good chance as long as it’s written as primary residence only. The fact they wouldn’t pivot to that leads me to believe there was an alternative motive for Dr. Becker.

He owns property which he would not pay taxes on. Sometimes people actually try to do the right thing for the majority..kind of like trump...

 

[Traxion]

Completely honest question- will ND have the funds to replace the revenue lost with a different system, or will it come down to cuts? The reason I ask is SD is rolling in the money. We don’t have a big Legacy fund. I’d say we run things quite conservatively, down to the local level. So a change here to the system means cuts to mostly thin areas. That’s what the legislature couldn’t figure out. They really can’t cut much, so then it turns into a shell game of taxing something different while still producing the same revenue. I don’t have a solution

 

[Fester]

Completely honest question- will ND have the funds to replace the revenue lost with a different system, or will it come down to cuts? The reason I ask is SD is rolling in the money. We don’t have a big Legacy fund. I’d say we run things quite conservatively, down to the local level. So a change here to the system means cuts to mostly thin areas. That’s what the legislature couldn’t figure out. They really can’t cut much, so then it turns into a shell game of taxing something different while still producing the same revenue. I don’t have a solution

They have the funds...amd wr could use ALOT of trimming

 

[bravo]

He owns property which he would not pay taxes on. Sometimes people actually try to do the right thing for the majority..kind of like trump...

Lol, there were no other interested parties involved? Trump is 100% selfless?

I wish I had your unwavering faith in my fellow man.

 

[Fester]

Lol, there were no other interested parties involved? Trump is 100% selfless?

I wish I had your unwavering faith in my fellow man.

No clue..only person that could answer that is Becker himself. Did you call and ask him? I know one thing..he is the ONLY person who has introduced a bill to actually help the majority of north dakota residents..