This bill amends the definition of "residential property" in subsection 12 of section 57-02-01 of the North Dakota Century Code. The new definition clarifies that residential property includes all properties used as dwellings by individuals or groups, as well as future dwellings. It specifies that residential property encompasses a tract of land with three or fewer mobile homes and a vacant platted lot within city limits intended for residential use, with the intended use determined by zoning regulations or plat documents.

Additionally, the bill outlines what does not qualify as residential property, explicitly excluding hotel and motel accommodations, structures with four or more separate family units, and tracts of land with four or more mobile homes. The effective date for this amendment is set for taxable years beginning after December 31, 2024.

Statutes affected:
INTRODUCED: 57-02-01