What is a “split roll” property tax system?

A “split roll” property tax system is a type of property tax system used in North Dakota and other states around the country. In this system, taxes are calculated separately for each type of property, such as residential, agricultural, or commercial. This allows for different tax rates to be applied for each type of property, based on their value. For example, residential property may have a lower tax rate than commercial property. The main benefit of the split roll system is that it makes sure property tax rates are fair and consistent across the state. Without this system, tax rates could vary significantly depending on the location or type of property, creating inequity among taxpayers. The split roll system also helps to ensure that tax revenues are allocated fairly. Rather than having all tax revenues go to the general fund, the different tax rates allow for funds to be directed to specific initiatives or projects. This ensures that the money collected is benefiting the public in an effective and meaningful way. Ultimately, the split roll system is a beneficial system for North Dakota and many other states because it helps create a fair and consistent system of taxing properties. It also ensures that tax revenues are allocated fairly and that the public benefits from the funds raised.

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What is a “split roll” property tax system?

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