New Leipzig, North Dakota Property Taxes
The median property tax rate in New Leipzig, ND is 0.98%, slightly lower than the national median of 0.99% and significantly below the North Dakota state median of 1.30%. With the median home value in New Leipzig at $3,900, the typical annual property tax bill is approximately $38, far less than the national median of $2,690. Property taxes in New Leipzig are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Leipzig'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 New Leipzig 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
New Leipzig, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$38
Ownwell’s New Leipzig Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Leipzig with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Leipzig 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 New Leipzig, North Dakota
Property taxes in New Leipzig, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Leipzig is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within New Leipzig set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Leipzig 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 New Leipzig's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58562 has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with New Leipzig provides valuable insights into the varying tax landscape across Hettinger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Leipzig Tax Rate
0.98%
Average Hettinger County Tax Rate
1.52%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Leipzig, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58562 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across New Leipzig, North Dakota
In New Leipzig, 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 Hettinger County 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 New Leipzig, 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 New Leipzig helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are 58562 and 58563, with annual tax bills of $250 and $23, respectively.
Average New Leipzig Assessed Value
$3,900
Average Hettinger County Assessed Value
$69,100
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Leipzig, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58562 | $1,720 | $2,350 | $3,900 | $12,425 | $25,610 |
Source: Ownwell
Property Tax Bills Across New Leipzig, North Dakota
In New Leipzig, located in Hettinger County, ND, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in New Leipzig, the median home price is $3,900. Property tax bills can vary significantly, with the 25th percentile tax bill being $23, the 75th percentile at $121, and the 90th percentile reaching $250. These amounts are relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable and attractive in New Leipzig, impacting the overall cost of living positively. However, it's crucial for homeowners to stay informed about any changes in local tax rates or property assessments that could affect their annual tax bills.
Average New Leipzig Tax Bill
$38
Average Hettinger County Tax Bill
$1,090
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across New Leipzig, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58562 | $17 | $23 | $38 | $121 | $250 |
Source: Ownwell