57-02.3 Payments in Lieu of Property Taxes
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<![CDATA[CHAPTER 57-02.3PAYMENTS IN LIEU OF PROPERTY TAXES57-02.3-01. Definition. As used in this chapter, unless the context or subject matterotherwise clearly indicates, "property subject to valuation" means real property owned by the<br>board of university and school lands or by the state treasurer as trustee for the state of North<br>Dakota, title to which was obtained after January 1, 1980, by foreclosure or deed in lieu of<br>foreclosure of a mortgage given to the Bank of North Dakota, including a mortgage assigned to<br>the state treasurer under section 54-30-02."Property subject to valuation" also means realproperty owned by the board of university and school lands or by the state treasurer as trustee<br>for the state of North Dakota, title to which was obtained on or before January 1, 1980, and which<br>is leased to a leaseholder who uses the property for growing hay or crops.57-02.3-02. Imposition of in lieu of tax payments. The board of university and schoollands shall annually make payments, subject to legislative appropriations, to any county in which<br>property subject to valuation is located. The payments are in lieu of ad valorem taxes that would<br>be payable to the county if the real property for which the payments are made were not owned by<br>the state. This chapter does not affect the provisions of chapter 57-29.57-02.3-03. Assessment of property - Notice to county auditors. All property subjectto valuation must be assessed for the purpose of making the payments under section<br>57-02.3-02, in the same manner as other real property in this state is assessed for tax purposes,<br>except that improvements made to any real property after foreclosure may not be considered in<br>the valuation.Before June thirtieth of each year, the county auditor of any county in whichproperty subject to valuation is located shall give written notice to the board of university and<br>school lands and the state tax commissioner of the value placed by the county board of<br>equalization upon each parcel of property subject to valuation in the county.57-02.3-04.Appearance before state board of equalization.The state board ofequalization shall equalize the values placed upon property subject to valuation. Representatives<br>of the board of university and school lands may appear before the state board of equalization to<br>oppose unreasonable or unjust valuations placed upon property subject to valuation as equalized<br>by the county board of equalization, or to oppose any change in valuations as proposed by the<br>state board of equalization, to the end that all valuations of property subject to valuation may be<br>uniform with valuations of comparable property throughout the state.57-02.3-05. Computation of payment - Remittance to counties. Upon receipt of thedecision of the state board of equalization, the board of university and school lands shall<br>compute the payments due to the counties in which property subject to valuation is located by<br>extending the mill levies that apply to taxable property in the taxing districts in which the property<br>is located in the same manner as is used for other taxable property in the taxing districts. After<br>computing the payments due to each county, the board of university and school lands shall,<br>within the limits of legislative appropriations, remit to the counties the amounts due on or before<br>March first of the year following the year for which the assessments were made.57-02.3-06.Allocation of revenue within counties.The revenue to which taxingdistricts are entitled under this chapter must be determined according to the proportion that the<br>taxing district's mill levy on other real property bears to the total mill levies of all taxing districts on<br>other real property in the taxing districts in which the property subject to valuation is located. The<br>revenue remaining after apportionment to the county must be apportioned and distributed by the<br>county treasurer among the various taxing districts in which the property for which payments are<br>made is located. The amount of revenue allocated to each taxing district in which property<br>subject to valuation is located must be divided among the various funds of the district according<br>to the proportion that the mill levy for any fund bears to the total of all mill levies of the taxing<br>district.57-02.3-07. Appropriation. There is hereby appropriated to the board of university andschool lands, as a standing and continuing appropriation from the lease rentals of propertyPage No. 1subject to valuation under this chapter, the funds necessary to make the payments required by<br>this chapter.Page No. 2Document Outlinechapter 57-02.3 payments in lieu of property taxes]]>