Section 1250 of the U.S. tax code applies to gains from the sale of depreciated business real estate. If a property was depreciated beyond the straight-line method, the extra depreciation is taxed ...

Examples include the elimination of machine and equipment tax and the Legislature’s continued withholding of state sales tax dollars meant to ease property tax levies.

According to the property tax examples shown to the council, property owners in East Grand Forks saw anywhere between an over 18% decrease in their city property taxes to a 7% increase, mainly ...