North Dakota Century Code Title 57. Taxation § 57-02-27.1. Property to be valued at true and full value (Effective for taxable years beginning after December 31, 2025)

1. All assessors and boards of equalization shall place the values of all items of taxable property at the true and full value of the property except as otherwise specifically provided by law, and the amount of taxes that may be levied on such property must be limited as provided in this chapter. For the purposes of sections 57-02-27, 57-02-27.1, 57-02-27.2, and 57-55-04, the term “true and full value” has the same meaning as provided in section 57-02-01, except that “true and full value” of agricultural lands must be as determined pursuant to section 57-02-27.2.

2. The governing body of the city or township may establish valuations that recognize the supply of vacant lots available for sale.