AN ACT to amend and reenact subsections 8 and 9 of section 57-02-27.2 of the North Dakota Century Code, relating to assessment of agricultural property; and to provide an effective date.
What changed between versions
Added requirement for local assessors to use a state-approved schedule of modifiers when determining agricultural property values, with modifiers applied in descending order of significance.
Added requirement that written evidence must be provided to the county director of tax equalization when agricultural values differ substantially from county estimates.
Added new process for property owners to request assessment adjustments by filing verified applications with assessors, including periodic review requirements.
Added requirement for county directors of tax equalization to obtain state supervisor approval before providing modifier schedules to assessors.
Modified effective date from the original bill to apply to taxable years beginning after December 31, 2025.
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