North Dakota League of Cities Elected Officials Workshop 2016 Linda Leadbetter State Supervisor of Assessments Office of State Tax Commissioner

Levies & Reporting Elected governing boards determine levy Non-elected board submits a REQUEST for a levy Reports of all revenues, expenditures, fund balances, and complete budget submitted to the governing body prior to approval of tax levy (NDCC 40-05-01(77))

Levies & Reporting Any entity authorized to levy or have a levy on its behalf must file a financial report with the county auditor Preceding calendar year Including ending fund balances (NDCC 57-15-30.2)

Levies & Reporting Effective for taxable years after 2014 Levy Limitation Schedule Statute providing the levy, uses, and limit Reference statute requiring special approval Levy number repealed Balance of special fund transferred to general fund & close special fund

Homestead Credit 65 years or older OR Permanently and totally disabled Income may not exceed $42,000 Assets may not exceed $500,000 Maximum value of the homestead eligible for the credit is $125,000 Special assessment - Lien

Disabled Veteran Credit Land and improvements of a homestead of a disabled veteran or surviving spouse Armed Forces disability of 50% or greater Maximum value of homestead eligible for the credit is $150,000 Credit terminates at the end of the taxable year of the death of the applicant.

Assessments & Equalization Property is assessed according to its value on February 1 each year Assessors complete duties during a 12-month period preceding April 1 of each year Provide written notice of increase if property assessment increased 10% or more and $3000 or more than the previous year

Assessments & Equalization City Board of Equalization meets second Tuesday in April (NDCC 57-11) Ten days prior to alternate meeting date post a notice at usual meeting place and publish in official newspaper Prior notice required if Board proposes a cumulative increase greater than 15% Recess/Reconvene

Assessments & Equalization Within ten days of final meeting, city auditor provides record of changes and proceedings to the county auditor Importance of local equalization County Board of Equalization (NDCC 57-12) State Board of Equalization (NDCC 57-13)

Questions?

Linda Leadbetter, State Supervisor of Assessments lleadbett@nd.gov nd.gov/tax