North Dakota: Massive Tax Cut -- US: Greatest County In The World -- July 14, 2023

Locator: 45134ND.

Great! But still not as good as Texas' and Texas is now even better! 

Regardless: the "argument" -- which state is best when it comes to property taxes and state income taxes is almost irrelevant (with perhaps some exceptions. Americans across the board have it really, really good). 

It's fun to compare different states but in the big scheme of things, the differencs are minimal -- as I discuss elsewhere -- but "we" still make the comparisons.

Link here.

Overview, North Dakota:

• Income tax will be eliminated for single filers making less than $44,725 and married couples making less than $74,750.
• A 1.95% tax will be applied to income between $44,725 and $225,975 for single filers and between $74,750 and $275,100 for married couples.
• A 2.5% tax will be applied to any income earned beyond the second bracket’s thresholds.

Currently, North Dakota’s highest income tax rate is 2.9%.

The remaining $157 million in tax relief will go toward property tax credits for homeowners.

Starting in 2024, all homeowners will be able to claim a $500 property tax credit on their primary residence.

The bill also will expand eligibility for the Homestead Property Tax Credit, which applies to homeowners 65 and older, as well as disabled homeowners. Under the new parameters, qualifying homeowners with annual incomes under $40,000 will be able to apply for a credit worth up to $9,000, while those making $40,000-$70,000 will be eligible for a credit worth up to $4,500.