Instructions for Maximum Levy Worksheet - North Dakota

This document was released by North Dakota Office of State Tax Commissioner and contains the most recent official instructions for Maximum Levy Worksheet .

FAQ

Q: What is the Maximum Levy Worksheet?
A: The Maximum Levy Worksheet is a document used in North Dakota to calculate the maximum amount of tax revenue a local government can collect.

Q: Why is the Maximum Levy Worksheet important?
A: The Maximum Levy Worksheet is important because it helps local governments determine how much tax revenue they are allowed to collect to fund their operations.

Q: Who uses the Maximum Levy Worksheet?
A: Local governments in North Dakota use the Maximum Levy Worksheet.

Q: What information is needed to complete the Maximum Levy Worksheet?
A: The Maximum Levy Worksheet requires information such as the local government's assessed property values, existing debt obligations, and special assessments.

Q: How is the maximum levy determined?
A: The maximum levy is determined by subtracting the local government's existing debt obligations and special assessments from the total assessed property values.

Q: What happens if a local government exceeds the maximum levy?
A: If a local government exceeds the maximum levy, it may face legal consequences and may be required to refund or reduce the excess tax revenue collected.

Q: Are there any exceptions to the maximum levy limit?
A: Yes, there are certain exceptions and adjustments allowed in special circumstances, such as for emergency situations or voter-approved levies.