Galesburg, North Dakota Property Taxes
The median property tax rate in Galesburg, North Dakota is 0.87%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Galesburg at $211,600, the typical annual property tax bill comes to $1,829, falling below the national median of $2,690. Property taxes in Galesburg are calculated based on the tax assessed value, which typically is lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Galesburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Galesburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Galesburg, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,841
Ownwell’s Galesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galesburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Galesburg, North Dakota
Property taxes in Galesburg, North Dakota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galesburg is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Galesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galesburg estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Galesburg's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58035 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Galesburg provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galesburg Tax Rate
0.87%
Average Cass County Tax Rate
1.42%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galesburg, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58035 | 0.81% | 0.82% | 0.87% | 0.91% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Galesburg, North Dakota
In Galesburg, North Dakota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Galesburg, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Galesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1829, found in the 58035 zip code.
Average Galesburg Assessed Value
$211,600
Average Cass County Assessed Value
$223,400
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galesburg, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58035 | $95,030 | $172,175 | $211,600 | $246,700 | $416,680 |
Source: Ownwell
Property Tax Bills Across Galesburg, North Dakota
In Galesburg, ND, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local tax assessor, who evaluates your property's market value. Once the market value is established, it is multiplied by an assessment ratio to determine the assessed value. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. Several factors influence your tax bill, including the property's location, size, and condition. For instance, the median home price in Galesburg is $211,600. Homeowners in this area typically see tax bills ranging from $1,476 at the 25th percentile to $2,258 at the 75th percentile, with the 90th percentile reaching as high as $3,686. These property tax bills can significantly impact homeowners, affecting their monthly expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, Galesburg's rates reflect the local government's funding needs for public services and infrastructure.
Average Galesburg Tax Bill
$1,829
Average Cass County Tax Bill
$3,332
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Galesburg, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58035 | $775 | $1,476 | $1,829 | $2,258 | $3,686 |
Source: Ownwell