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Over $1.3B property tax relief plan proposed in ND

BISMARCK, N.D. (AP) -- North Dakota's state tax commissioner has proposed a more than $1.3 billion property tax relief plan.

Commissioner Ryan Rauschenberger on Monday said the proposal could give the owners of a $200,000 home an average of $2,000 in annual property tax savings.

Property tax in North Dakota is assessed based on the estimated value of property. The state's robust economy has spurred rising property values, often leading to increased local tax collections.

Rauschenberger says the plan would increase state funded property tax relief from $857 million to $1.36 billion in the next two years.

Gov. Jack Dalrymple in December announced a task force to study permanent property tax reform. He said North Dakota has had about $1.5 billion in local property taxes reductions since 2009, but a lasting reform is needed.