MANDAN, N.D. (KFYR) - The city of Mandan is putting aside more money due to the state’s new law that limits local property tax increases.

This past spring, the legislature passed a property tax relief measure that places a 3% cap on property tax increases annually.

In response, the city of Mandan updated its General Fund balance policy in order to stay financially stable, maintain essential city functions and increase its credit rating for federal bond issuers.

Going forward, Mandan will hold a 25% cash reserve of its general fund balance, or roughly three months of operating expenses, in case of emergency.

Previously, the cash reserve was 17%.

“If something were to happen unexpectedly, or we have circumstances beyond our control, that we would have the cash flow to be able to meet ou

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