Port: There’s a way we could have property tax and income tax cuts
MINOT, N.D. — We’re in the heat of election season now, but just a couple of months after we vote, lawmakers begin a new legislative session, and some of the state’s leaders already have some big plans for that session.
Gov. Doug Burgum and a group of lawmakers have proposed significant income tax reform. It would reduce the state’s tax brackets from a half-dozen down to two , with most filers falling into the lower bracket with a zero rate.
That means most North Dakotans would pay no income tax at all. The top 40% or so of income earners would pay a very small rate.
Meanwhile, another group of lawmakers, including state Rep. Mike Nathe, a Republican from Bismarck, are proposing property tax relief . They want the state to take on the portion of your property tax bill that goes to schools, and they’d use interest revenues from the state’s going-on $9 billion Legacy Fund to pay for it.
Both plans face some political obstacles. The conventional wisdom is that few North Dakotans are bothered by our state’s already-low income tax rates. A far more common complaint is property taxes, we’re told.