Transcript Highlights:

• So that might be perhaps if it's your will to change that from assessed value to fair market value on
• value on page two, line 15. value on page two, line 15.
• The assessed value is 9 12% of the fair market value and then take 50%.
• that first $3 million or assessed value. that first $3 million or assessed value.
• the assessed value. the assessed value.

Bills: SF0079, SF0080, SF0039

Keywords: sales tax, use tax, economic development, impact assistance, industrial facilities, tax exemptions, local control, electronic notice, compliance, tax collection, administration, tax exemption, long-term homeowners, property tax, seniors, residential property, 916, all

Transcript Highlights:

• I don't think anybody in this room disagrees with the importance and the value of UNH.
• <00:44:08.359> their value them and we don't value their value them and we don't value their
• state that we are not valuing higher education.
• state that we are not valuing higher education.
• state that we are not valuing higher education.

Keywords: 928, house, all

Summary: The committee first considered an amendment to add a new “Lakes” license plate to HB 2, with proceeds directed to the cyanobacteria fund for lake cleanup. Representative McGuire said the bill had already passed on consent and asked that it be included in HB 2; members discussed that it had also gone to the Senate. The motion to adopt the amendment failed on a 7-8 vote. The committee then took up an amendment imposing a 5% administrative fee on certain dedicated funds, with several exemptions for funds that could not legally or appropriately be charged, such as those involving federal money or bequests. Supporters said it would make the treatment of dedicated funds more consistent and raise roughly $31 million over the biennium for the general fund, while opponents questioned the number of carve-outs and who currently pays the administrative costs. The amendment failed on a 4-5 vote. Next, the committee reconsidered and then adopted an amendment changing the distribution of business profits tax and business enterprise tax revenue, reducing the share going to the Education Trust Fund from 41% to 30% and increasing the General Fund share. Supporters argued the Senate had overfunded the Education Trust Fund and that the change would help balance the budget without changing education spending levels; opponents said they could not support taking money from the Education Trust Fund. The amendment passed 5-3. The committee also adopted, by the same 5-3 margin, an amendment incorporating HB 741 language on open enrollment and student attendance in public schools, with supporters calling it House policy and opponents noting it had been a close, partly partisan vote in the House. Finally, the committee considered a change to the University System of New Hampshire budget that would reduce general fund appropriations by $40 million per year, offset in part by $15 million in previously approved unique dollars for a net reduction of $25 million per year. Supporters said the cut was necessary to balance the budget and that other options had been exhausted; opponents called it harmful to the university system and argued the committee should instead look to other areas, including education freedom accounts, for savings. The discussion continued, but the transcript excerpt ends before a final vote on the UNH item.

Transcript Highlights:

• It happens to be in an area of the metro where values have gone up and up.
• <00:08:56.160> are<00:08:56.440> still<00:08:56.920> 220 values are still 220 values
• <00:09:12.760> over happen with the values over happen with the values over 300,000<00:09:
• > and what their value assessed value is and what their value assessed value is and how<00:09:37.040
• Today that house is valued at $312,000.

Keywords: 1183, house

Transcript Highlights:

• What are the goals of land value tax?
• <00:07:39.400> tax what are the goals of land value tax what are the goals of land value tax
• Advocates so proponents of land value Advocates so proponents of land value taxes<00:07:42.520><
• So, um, are there winners and losers under land value taxes?
• <00:10:28.560> taxes actively impose impose land value taxes actively impose impose land value

Keywords: 1183, house

Transcript Highlights:

• new ways to value to get value from new ways to value to get value from their<00:12:21.920> past
• We have statewide forest groups that look at the value of timber and set a value for timber every year
• extra value on that existing footprint? extra value on that existing footprint?
• value to forest land, all power to them. value to forest land, all power to them.
• higher value product? higher value product?

Keywords: 928, house, all

Summary: The meeting opened with roll call and approval of the prior minutes, including a requested correction to Thomas Han’s statement about a Granite State Division of the Society of American Foresters subcommittee studying the timber yield tax and current use forest land tax assessment formula. The correction was adopted, and the minutes were then approved as amended. The main agenda item was a hearing of landowners on forest taxation and carbon credits. Several scheduled speakers canceled, so the committee received a letter from Ross Karen, a Coos County landowner and forester, who opposed carbon credit sales because of “leakage” and argued that diverse local markets and productive forests are better than carbon sales. Aean Kelly of White Mountain Lumber and the Randolph Town Forest also testified, saying many Coos County landowners and forest managers have declined carbon credit offers because they do not fit New Hampshire’s working-forest tradition. He argued that carbon agreements should be treated on a level playing field with traditional harvesting and that, if they are to be encouraged, they should face a fiscal adjustment comparable to the timber tax. Kelly also gave a detailed history of the timber tax, explaining that it was created in 1948 to replace uneven local property taxation on standing timber, discourage clearcutting, and stabilize the tax base while preserving working forests. He said the tax was intended to be collected when timber is harvested, not to stop logging, and that a later commission found the 10% rate roughly matched the revenue towns lost. In response to questions, he said pre-1948 assessments varied widely by town and tax collector, and that carbon projects today are already being valued by sophisticated models, so he believes carbon should be included in the assessment system. He also said short-term carbon agreements may simply monetize existing forest value, while 100-year agreements raise enforceability concerns. No votes or other formal actions were taken beyond approving the amended minutes.

Transcript Highlights:

• To net asset value growth.
• And so when we think of stores of value, we think of a store of value.
• And that's what people think of as a store of value—something that will maintain its value over time.
• Gold is valued at 22 trillion.
• Well, the value is in the network.

Transcript Highlights:

• values to our software.
• values to our software.
• to market value.
• to market value.
• Users input the parcel values and maintain just the total value information.

Summary: The subcommittee of the Tax Reform and Relief Committee met to begin its study of the feasibility and desirability of revising the content of the real estate tax statement to improve property tax transparency. Legislative Council staff reviewed the study directive under House Bill 1176 and the statutory requirements for tax statements, including required line items such as true and full value, mill levy, legislative tax relief, primary residence credit, and the Legacy Fund portion of that credit. The Tax Department then explained how the current uniform statement is prescribed and approved, and noted that changes are typically driven by statute and implemented collaboratively with counties and vendors. County officials from the North Dakota Association of Counties described the full annual tax cycle, from county budgeting and valuation notices to budget hearing notices, levy certification, cap calculations, and final tax statement mailing. They emphasized that counties and auditors do extensive coordination with taxing districts and neighboring counties, and that the process is labor-intensive and often manual. Members discussed the limited public response to budget notices and tax statements, the difficulty of explaining the legislative tax relief line, the 3% cap and valuation issues, and whether more frequent assessments or different timing would improve understanding. Several members and witnesses noted that many taxpayers only engage when they receive their final bill, and that clarity may be more important than adding more detail. NDACO also presented a rough cost survey from eight counties, estimating an average tax statement cost of about 74 cents and a statewide total near $600,000 for printing and mailing tax statements alone, with outsourcing generally cheaper than in-house printing. Witnesses noted that House Bill 1176 added other mailings and notices, increasing county workload and cost beyond the statement itself. The committee then heard from software vendors, who explained how their systems handle tax billing, budget notices, valuation notices, primary residence credit processing, and tax levy calculations, and they identified the 1600/1685 primary residence credit and discount interaction as a current programming challenge. No votes were taken; the meeting was informational and focused on gathering testimony and identifying issues for possible future recommendations or bill drafts.

Transcript Highlights:

• The tax statement must include a dollar value of the true and full value, the total mill levy, three
• taxable values, to the county.
• values to our software.
• to market value.
• Users input the parcel values and maintain just the total value information.

Keywords: 908, all

Summary: The subcommittee of the Tax Reform and Relief Committee met with a quorum to begin its study of whether the content of North Dakota real estate tax statements should be revised to improve transparency. Legislative Council staff reviewed the background for the study, including House Bill 1176, current statutory requirements for tax statements, and recent changes such as separate line items for bonded debt, primary residence credit, and legacy fund-related amounts. The Tax Department then explained the current statement format and noted that the form is prescribed and approved by the tax commissioner, with changes typically driven by statute and implemented collaboratively with counties and vendors. County officials from the North Dakota Association of Counties described the full annual process for preparing budgets, setting levies, calculating taxable values, and issuing notices and tax statements. They said counties spend significant time coordinating with taxing districts, neighboring counties, and software vendors, and that the new budget hearing notices and valuation notices have not generated much public response. Members raised concerns about the usefulness and clarity of certain line items, especially the legislative tax relief calculation and the primary residence credit, and discussed whether the current statement creates confusion rather than transparency. Testimony also addressed the 3% cap, mill levy worksheets, assessment cycles, and the role of county auditors and tax directors in maintaining accurate values. The committee also heard from software vendors CPT and Tyler Technologies about how legislative changes are programmed into tax systems and how online taxpayer portals can provide more detailed breakdowns of tax bills. Vendors said changes required by law are generally absorbed in contracts rather than billed directly to counties, and they demonstrated web tools and pie-chart style breakdowns that show where tax dollars go. NDACO presented a survey of eight counties estimating tax statement preparation and mailing costs, concluding that outsourced printing tends to be cheaper on average and that total statewide tax statement costs may be roughly $600,000, though the estimate was based on limited data. No votes were taken; the meeting was informational and focused on gathering testimony and identifying issues for possible future recommendations or bill drafts.

Transcript Highlights:

• waterway acres, which is a substantially lesser value than cropland values.
• in buffer strips should be valued in buffer strips should be valued appropriately<00:31:48.000><
• 60% of crop land value 60% of crop land value and<00:32:58.480> the<00:32:58.600> truth
• Thank you, Madam Chair. value uh and they do have some real value uh and they do have some real world
• easement may impact the property value easement may impact the property value thank<00:53:18.839

Keywords: 1187, senate, all

Transcript Highlights:

• value, value, fair market value, um<01:21:15.760> rather<01:21:16.080> than<01:21:16.239
• . value. value.
• Sentence as all by saying market value assessed value.
• value.
• I would move value of fair market value.

Bills: HB0045

Keywords: property tax, exemption, homeowners, long-term, aged, 916, all

Transcript Highlights:

• ratios, whereas the market value of assets represents the value of the trust fund as of the valuation
• I’ll start with the market value. To mention, it’s the value of the trust fund.
• The dashed line represents the actuarial value. The dashed line represents the market value.
• You can see that the market value is more volatile, moves up and down, and then the actuarial value cuts
• market value of the fund.

Summary: The Pension Funding Council met on June 23, 2026, for a work session that began with an overview of the Higher Education Supplemental Retirement Plan (SRP) and a 2025 accounting valuation of that plan. Staff explained that the SRP is a closed defined benefit supplement for higher education employees hired before the 2011 closure, with employer contributions currently pre-funding benefits in institution-specific trusts while institutions still pay benefits on a pay-as-you-go basis. The State Actuary’s office reported that the plan’s accounting position has improved, with combined market assets of about $245 million against $377 million in accrued liability, and that strong market performance since 2022 has increased the asset-to-liability ratio. The office emphasized that this was an educational accounting valuation, not a funding valuation for rate-setting. The council then received the 2025 actuarial valuation report for the state retirement systems. Actuaries reviewed the recent demographic experience study, noting updated assumptions for mortality, retirement, termination, and salary growth, and said the net impact on most plans was small. They reported that most plans’ funded ratios improved, with all plans at least 94% funded and several at or above 100%, and that contribution rates for the 2027–2029 biennium are generally lower than current rates. They also noted that future rates could be affected by market volatility as deferred gains are recognized over the next few years. During public comment, a representative of the Association of Washington Cities urged the council to consider rate reductions to help local governments facing budget pressures. In executive session, the council first approved a motion directing the Office of the State Actuary to perform an actuarial evaluation and analysis of each institution’s Higher Education Supplemental Retirement Plan, including institution-specific contribution rates, asset sufficiency, and funding policy options, due by July 1, 2028. The council then adopted the 2027–2029 pension contribution rates based on the 2025 actuarial valuation report. Both motions passed 5-0, with one member excused. The meeting concluded with no further business.

Transcript Highlights:

• taxable values, to the county.
• values to our software.
• Property values were declining.
• to market value.
• Users input the parcel values and maintain just the total value information.

Summary: The subcommittee of the Tax Reform and Relief Advisory Committee met to begin its study of whether the content of the real estate tax statement should be revised to improve transparency. Legislative Council staff reviewed the study directive from HB 1176 and the statutory requirements for tax statements, including required line items such as true and full value, mill levy, legislative tax relief, primary residence credit, legacy fund share, discounts for early payment, and special assessments. The Tax Department then explained how the current uniform statewide statement is prescribed and approved, and noted that changes are typically driven by statute and implemented collaboratively with counties and vendors. County officials from NDACO, including auditors from McKenzie and Richland counties, described the full annual property tax timeline from budgeting through mailing final statements. They explained how counties gather budgets, calculate levies, verify taxable values, handle centrally assessed property, and prepare required notices and statements. They also said public attendance at budget hearings is generally very low, though the notices and statements generate some calls, mostly about whether attendance is required or why taxes are changing. Several members questioned the usefulness of the legislative tax relief line and the complexity of the 5% discount calculation, and county officials said the current process can be confusing and depends on manual data entry and coordination among counties, vendors, and taxing districts. The committee also discussed assessment frequency, valuation equalization, the 3% cap, and whether more frequent reassessment would reduce large jumps in taxable value. County officials said they try to use rotating reassessments and sales-ratio reviews to keep values within statutory tolerance, but staffing, training, and local market changes make the work difficult. NDACO staff estimated, based on a small county survey, that tax statement preparation and mailing costs average about 74 cents per statement, with outsourcing generally cheaper than in-house printing, and said HB 1176 added some mailing and administrative costs even if the tax statement itself did not change dramatically. Software vendors from CPT and Tyler then began presentations showing how their systems handle budgeting, valuation notices, tax statement generation, primary residence credit processing, and levy worksheets, emphasizing that many of the required calculations and reports are still manually entered or verified by county staff.

Transcript Highlights:

• Um, so if I can give you one value.
• a present value of $46,000. a present value of $46,000.
• statutory present value calculation. statutory present value calculation.
• This concept of present value got dropped into the bills, and when you talk about present value, the
• <01:16:35.600> of negates the fundamental time value of negates the fundamental time value

Keywords: 1187, senate, all

Transcript Highlights:

• <00:43:01.960> statements<00:43:02.720> of value statements of value statements of what
• <00:44:08.359> their value them and we don't value their value them and we don't value their
• state that we are not valuing higher education.
• passing this is that we do not value passing this is that we do not value higher<00:47:32.520>
• higher education as much as we value higher education as much as we value other<00:47:34.599>

Keywords: 928, house, all

Summary: The House Finance Division II work session considered several amendments to HB 2. The first two items were rejected: a proposal to add a new “Lakes” license plate with proceeds to the cyanobacteria fund failed 7-8, and Amendment 1040, which would have imposed a 5% administrative fee on certain dedicated funds to raise general fund revenue, failed 4-5. Representative Maguire explained the fee would apply only to new revenue going forward and would not change existing fund balances; he also described exemptions for federal funds, bequests, and other special cases. Representative Murray questioned the consistency of the approach and who currently pays administrative costs, while Maguire said the charges are often handled case-by-case by agencies or the treasurer. The committee then revisited revenue distribution changes in HB 2. Members first reconsidered and reversed prior acceptance of sections affecting the Education Trust Fund, then adopted Amendment 1381H, which changes the distribution of business profits tax and business enterprise tax revenue, along with related sections, to shift more money to the General Fund. Supporters argued the change was needed to address revenue shortfalls and to align with historical distributions; opponents said it reduced support for education. The reconsideration motion passed 7-3, and the amendment itself passed 5-3. The committee also adopted Amendment 1413H, incorporating the language of HB 741 on open enrollment and student attendance in public schools. Supporters said it was House policy and had sufficient policy and fiscal impact to belong in HB 2; opponents noted the underlying bill had been controversial and passed the House by a relatively close margin. Finally, the committee considered a USNH budget reduction proposal that would cut the University System of New Hampshire by $25 million per year net. Supporters said the cut was necessary to balance the budget and that K-12 obligations had to take priority, while opponents argued the cut would harm workforce development, the state economy, and student retention. The transcript cuts off during extended debate, and no final vote on the USNH item is shown in the provided text.

Transcript Highlights:

• ratios, whereas the market value of assets represents the value of the trust fund as of the valuation
• I'll start with the market value. To mention, it's the value of the trust fund.
• The line represents the market value. The dashed line represents the actuarial value.
• You can see that the market value is more volatile, moves up and down, and then the actuarial value cuts
• market value of the fund.

Keywords: 904, all

Transcript Highlights:

• no mechanism for that value to be realized and monetized and the proceeds from that gain in value to
• > be no mechanism for that value to be no mechanism for that value to be realized<00:14:22.560
• The fund value can certainly decline. Uh The fund value can certainly decline.
• average of the funds value. average of the funds value.
• So, the value of the fund at 2.3 is half investment value.

Keywords: 1187, senate, all

Transcript Highlights:

• And, to be clear, this market value exclusion does have a cost.
• value of the property, right?
• choose between this market value choose between this market value exclusion<00:12:33.399> and
• when we're talking about market value when we're talking about market value exclusions<00:13:17.360
• <00:15:18.600> to there is an inherent value to there is an inherent value to communities<

Keywords: 919, house, all

Summary: The committee took up House File 633, which would provide property tax relief for in-home family child care providers. An amendment was adopted first that converted the bill from a state-paid credit into a 50% market value exclusion. The author explained the bill as a way to reduce property tax burdens on family child care homes, stabilize a shrinking sector, and help preserve child care capacity, especially in rural areas. He cited declining numbers of licensed providers, rising costs, and long-term losses in family child care slots. Public testimony was generally supportive. A family child care provider’s relief provider described rising costs for utilities, insurance, and taxes, and said home-based care remains important for families who do not want center-based care. A representative from Leading Care Public Policy said family child care is in crisis, emphasized the continuity and community connection of home-based care, and supported the bill as a way to equalize support for providers. Members also discussed the policy choice between a credit and an exclusion, with some arguing a credit would be more targeted and equitable, while the author said the exclusion was the most practical way to move the bill forward. House Research explained that because the bill is structured as an exclusion, most of the benefit would be shifted to other local taxpayers rather than paid by the state, though there could be a small state cost through increased property tax refunds. Members raised concerns that the exclusion would interact with homestead exclusions and might favor higher-value homes, while supporters argued it would directly lower costs for child care providers and could help expand capacity. The committee closed testimony and voted to re-refer House File 633, as amended, to the Committee on Taxes, where the motion prevailed.

Transcript Highlights:

• an important reminder that market value an important reminder that market value increase<00:10:18.160
• disabled veterans market value disabled veterans market value exclusion<00:12:38.279> all
• from basically property taxes that value from basically property taxes that value would<00:12:50.000
• implications to tax policy uh the values implications to tax policy uh the values that<00:31:21.360
• that a property can increase in value that a property can increase in value one<00:37:34.920>

Keywords: 1183, house

Transcript Highlights:

• in taxable value.
• in taxable value.
• million in taxable value.
• , not the home value.
• But it does not allow them to take into account just that inflationary value of the property values.

Keywords: 908, all

Summary: The committee met to continue its tax reform and relief study agenda, approved the December 3, 2025 minutes, and announced a new subcommittee to examine property tax statement issues with counties, auditors, and the tax office. Representative Headland was named chair, Senator Rummel vice chair, and Representatives Dressler and Dr. Dr. and Senator Patton were also assigned. The chair noted the group may need an additional meeting and thanked staff and attendees. A major portion of the meeting focused on economic development incentives. The Department of Commerce presented on the Renaissance Zone program and TIF districts, describing Renaissance Zones as locally tailored tools that combine local property tax relief with state income tax incentives. Commerce said the program has supported thousands of projects since 1999 and cited examples from Beach and Mandan showing increases in property and taxable value, business retention, housing, and downtown revitalization. Committee members raised concerns that smaller rural communities often lack the staff and expertise to apply, and Commerce said it provides outreach through conferences, office hours, and one-on-one assistance. League of Cities and local officials from Bismarck and Ellendale echoed the capacity issue, discussed how the programs have worked in their communities, and suggested possible reforms or more targeted support for small towns. Ellendale’s mayor also described two TIF districts, one for industrial infrastructure in Oaks and one for housing infrastructure tied to a data center project in Ellendale. The committee then turned to stripper oil taxation. The Tax Department gave a comparison of oil and gas tax structures in selected states, noting that most have some form of stripper or marginal well provision, while Alaska does not appear to have a specific stripper-well exemption. Members asked for more detail on definitions and North Dakota’s annual adjusted rate. The Department of Mineral Resources followed with a detailed presentation on North Dakota stripper wells, explaining the statutory thresholds, the 12-consecutive-month production test, and the fact that once a well qualifies it remains on stripper status even if production later rises. DMR said about 11,332 stripper wells are active, representing roughly 54% of wells and about 16% of state production, and emphasized that stripper status can extend well life, preserve tax revenue, and reduce orphaned wells. Committee members and industry witnesses discussed refracs, the economics of keeping marginal wells active, and the competitive disadvantage created by North Dakota’s oil price discount. No votes were taken on these informational items.

Transcript Highlights:

• And true and full value, and then, of course, maximum reduction in taxable value.
• They use the cost approach, which determines an estimated value based on the total of the land's value
• a current value.
• Commercial property values also climb.
• The price went up, the gross value less about 3.25% of that gross value is taken out of the equation,

Summary: The committee met to receive updates from the Tax Commissioner’s office on property tax relief programs and related compliance work. Commissioner Brian Croshys reviewed the Homestead Property Tax Credit, Disabled Veteran Credit, and Primary Residence Credit, noting that the Homestead program expanded significantly after HB 1158, that some households are “adjusting out” of eligibility as incomes rise, and that the committee may want to consider indexing income thresholds. Members asked for additional data on bracket breakdowns, possible costs of eliminating income limits for seniors, and how many households are zeroed out by the combined programs. Croshys also discussed the simpler administration of the disabled veteran credit, the growth in participation, and the heavy workload and auditing safeguards built into the new primary residence credit system. He said the department found no material compliance findings and that the program is designed to be digital-first, with county auditors and the Tax Commissioner’s office both involved in review and notification. The committee recessed for lunch and later reconvened, with the chair noting that more detailed PRC information would likely be available at a September meeting. Shelly Myers then presented the statewide property tax increase, or “zero growth,” report and the 2025 statistical report. She explained how county auditors report levy and valuation data, how increases and decreases are counted, and which jurisdictions showed the largest percentage changes in countywide, citywide, school district, and park district levies. In the statistical report, she summarized recent trends in assessed values: agricultural values remained relatively flat, while residential, commercial, and centrally assessed property values increased over the past five years. She also reviewed statewide tax levies by property class and clarified that centrally assessed growth figures were annual averages. Members discussed how shifts in land use and annexation can make it appear that tax burdens are moving from ag to residential/commercial property. Myers then summarized the interim study on the 3% levy limitation under HB 1176, saying most counties complied without budget changes, while some used hiring freezes, deferred purchases, or reserve funds; 23% of counties had to reduce levies, and the affected funds were mainly general, road and bridge, and weed control. She said 12 counties reported zero new growth in the data and that 35 counties reported not using all of their cap. The committee also received an oil tax presentation from Croshys on the stripper well extraction tax exemption. He outlined the number of active stripper wells, the production and revenue implications of the exemption, and projections for future biennia under different tax scenarios. He said the exemption represents substantial savings to operators but also corresponds to production tax revenue that would otherwise be collected, and he emphasized that future outcomes depend on oil prices, well counts, and technology such as CO2 enhanced oil recovery. Nathan Anderson of the Department of Mineral Resources briefly answered a question about why Red River wells have a different production threshold than Bakken wells, explaining it was tied to completion costs and lateral length. The committee then heard from Charlie Gorecki of the EERC, who presented an analysis of typical Bakken well decline curves and argued that most oil is produced before a well reaches stripper status, but that keeping wells open and investing in refracturing or other interventions can recover additional production. No votes were taken during this portion of the meeting; the main actions were receiving reports, asking for follow-up data, and scheduling further discussion for a later meeting.