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Nearly $500M to be distributed to K-12 from Common Schools Trust Fund this biennium, easing pressure on property taxes and state’s general fund

BISMARCK, N.D. (JULY 27, 2023) –The state of North Dakota collected a record $522.5 million in oil and gas royalties paid on state-owned mineral acres during the fiscal year ending June 30, 2023, according to information presented today to the North Dakota Board of University and School Lands (Land Board). This is on top of a previous record of $457 million in fiscal year 2021-22...

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