All property subject to valuation must be assessed for the purpose of making the payments under section 57-02.3-02, in the same manner as other real property in this state is assessed for tax purposes, except that improvements made to any real property after foreclosure may not be considered in the valuation. Before June thirtieth of each year, the county auditor of any county in which property subject to valuation is located shall give written notice to the board of university and school lands and the state tax commissioner of the value placed by the county board of equalization upon each parcel of property subject to valuation in the county.

Terms Used In North Dakota Code 57-02.3-03

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • 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
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
  • year: means twelve consecutive months. See North Dakota Code 1-01-33
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