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North Dakota's new governor eyes 'path to zero' property tax on people's homes. Can it be done?

  • North Dakota's new governor, Kelly Armstrong, proposes a plan to eliminate residential property taxes using oil revenue, aiming for a 'path to zero' property tax on homes.
  • The plan includes starting with $483 million from the general fund and a primary-residence tax credit offering initial relief of up to $1,550 per year.
  • Fargo Mayor Tim Mahoney expressed concerns about the sustainability of the proposal, noting property taxes fund 40% of the city's budget.
  • The Legacy Fund's earnings, surpassing $600 million, are key to supporting this tax relief plan, highlighting North Dakota's unique revenue situation.
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