Fair taxation starts with how we assess property in the state.
That's according to Senator Dwight Cook in opening comments at the tax interim committee meeting this morning.
Senator Cook says property taxes are one of the more difficult taxes to understand.
The committee focused on the assessment process today, hoping to streamline property tax configuration.
(Senator Dwight Cook, Taxation Committee Chairman) "The last few sessions we've done a lot of work at lowering the tax burden, now we're at full court press on reform, especially on the assessment side. If it's easier for them to understand, they're more confident to get involved with local government and share their opinions about the tax burden that's placed upon them."
Frequently held in Bismarck, the taxation committee was hosted in Minot today.
City Assessor Kevin Ternes says the true and full value of taxable property in the Magic City is up about ten percent this year, totaling about $4.5 billion.
He says homes in Minot are sold on average about seven-percent higher than the assessed value for a median home sale of about $232,000 in 2013.
Ternes says he expects commercial property tax value to continue to climb this year.