701-566-9300The discussion on multiple taxing questions continued this week. For one, my take on the committee direction concerning elimination of the marriage penalty at the state income tax level is to look favorably upon action in the coming session and possibly even have a bill prepared for introduction.
For another, it would appear that adjusting income tax brackets so that about 86% of our state’s income tax payers would owe zero dollars is also being looked upon favorably.
Thirdly, all of that would go out the window should the signatures for the ballot measure eliminating property tax come in successfully, with the seemingly favorable attitude from polling showing it would pass come the November election. The committee discussed property tax notification forms, tax shifts should the measure pass, etc. But the overriding concern is where the money would come from if property tax is eliminated. No one knows for sure.