North Dakota Code 15.1-27-20.2 – Taxable valuation – Impact on state aid
1. If a school district’s imputed taxable valuation per student is greater than one hundred fifty percent of the state average imputed taxable valuation per student, the superintendent of public instruction shall:
Terms Used In North Dakota Code 15.1-27-20.2
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
a. Determine the difference between the district’s imputed taxable valuation per student and one hundred fifty percent of the state average imputed taxable valuation per student; b. Multiply the dollar amount determined under subdivision a by the district’s average daily membership; c. Multiply the dollar amount determined under subdivision b by one hundred eighty-five mills; d. Multiply the dollar amount determined under subdivision c by a factor of 0.75; and e. Subtract the dollar amount determined under subdivision d from the total amount of state aid to which the district is otherwise entitled.
2. For purposes of this section, “imputed taxable valuation” means the valuation of all taxable real property in the district plus an amount determined by dividing the district’s mineral and tuition revenue by sixty percent of the district’s general fund mill levy. Beginning July 1, 2008, “imputed taxable valuation” means the valuation of all taxable real property in the district plus an amount determined by dividing seventy percent of the district’s mineral and tuition revenue by the district’s general fund mill levy.