The definition of residential property; and to provide an effective date.
Impact
The changes proposed by HB 1152 are set to have notable implications on property taxation and housing regulations within the state. By clarifying what constitutes residential property, the bill aims to streamline property classification for tax purposes. It recognizes mobile homes as residential dwellings, thereby enabling homeowners of mobile homes to benefit from residential taxation rates rather than commercial rates, potentially making housing more affordable for a segment of the population.
Summary
House Bill 1152 seeks to amend the definition of 'residential property' within the North Dakota Century Code. This specific amendment provides clarity by defining residential property as any property or portion of property utilized by individuals as a dwelling. Importantly, the bill explicitly includes mobile home locations while excluding hotel and motel accommodations that require licensing as well as structures that house four or more separate family units. This act represents an important update that reflects the evolving nature of housing in North Dakota.
Contention
While the bill appears straightforward, it could introduce contention in discussions around zoning laws and property taxes. Opponents may argue that the definition is too broad or does not sufficiently address the nuances of different types of residential setups, especially in urban areas where mixed-use properties are common. Moreover, stakeholders involved in housing development may have differing opinions on how such a classification could influence the market and the availability of affordable housing.
Effective_date
If passed, HB 1152 will be effective for taxable years beginning after December 31, 2024, giving authorities time to adjust their systems and allow for public awareness of the new definitions.
Legacy fund definitions, the legacy earnings fund, and the primary residence credit; to provide an appropriation; to provide for a transfer; to provide an effective date; and to provide an expiration date.
A partial property tax exemption for residential property used for in-home care services for a qualifying individual; and to provide an effective date.
The primary residence credit, setoff of income tax refunds for payment of delinquent real property and special assessment taxes, and eliminating foreclosure of tax liens for primary residential property; to provide an effective date; to provide an expiration date; and to declare an emergency.
Legacy fund definitions and the legacy earnings fund; to provide a statement of legislative intent; to provide for a legislative management study, to provide an appropriation; to provide an effective date; to provide an expiration date; and to declare an emergency.