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ND-Democratic-Party News from headquartersDisclaimer: This article is a blog post and does not represent the views
or opinions of Reiten Television, KXNet.com, its staff and associates and is wholly owned by
the user who posted this content.
Jun 13 2007 12:00AM
http://www.nddemnpl.blogspot.com/ Here are some facts on the measure according to a recent article in the Bismarck Tribune: The proposal calls for a 50 percent reduction in North Dakota's personal income tax rate and a 15 percent reduction in its corporate tax rate. It would cost the state $280 million over two years, according to Americans for Prosperity. To get this idea on the ballot, supporters will have to collect at least 12,844 signatures by March 11, 2008, according to the Secretary of State's Web site. North Dakota's state income taxes vary from 2.1 percent for those who make less than $30,650 to 5.54 percent for those who make more than $336,550, according to the Tax Foundation, a Washington, D.C. based tax research group. In terms of overall state and local tax burden, North Dakota ranks 37th, according to the group. During his show yesterday, Heitkamp brought up the fact that property taxes are probably the most egregious financial levy on North Dakotans. The Grand Forks Herald this morning opined that income tax rates in North Dakota are fairly low. The Legislature did pass a property tax relief bill in the 2007 Legislative Session. The legislation gave a 10 percent break to residential, commercial and agricultural property owners. Democrats first pointed out the need for a property tax reduction. If memory serves me right, Brent Edison, our 2006 candidate for tax commissioner, first promoted property tax relief. Sen. Tracy Potter, D-Bismarck, proposed the largest tax break during the last session. In fact, all of our legislators advocated for property tax relief in the last session. However, property taxes have gone up a lot more than 10 percent in the last five years in many areas. This was mostly due to the Republican legislative majority not funding K-12 education properly. I am guessing there will be more property tax relief bills during the 2009 Legislative Session. -Rick G. |
Disclaimer: This article is a blog post and does not represent the views or opinions of Reiten Television, KXNet.com, its staff and associates and is wholly owned by the user who posted this content.
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