Towner, North Dakota Property Taxes
The median property tax rate in Towner, ND is 1.18%, slightly higher than the national median of 0.99% but below the North Dakota state median of 1.30%. With the median home value in Towner at $62,250, the typical annual property tax bill is $598, which is significantly lower than the national median of $2,690. Property taxes in Towner are calculated based on the tax assessed value, often below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Towner'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 Towner 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
Towner, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$735
Ownwell’s Towner Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Towner. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Towner to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. The assessed value of your property is determined by McHenry County for tax purposes and may include applicable exemptions.
Property Tax Rates Across Towner, North Dakota
Property taxes in Towner, 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 Towner is 1.04%, which is higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Towner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Towner 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 Towner's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58788 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Towner provides valuable insights into the varying tax landscape across McHenry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Towner Tax Rate
1.18%
Average Mchenry County Tax Rate
1.11%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Towner, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58788 | 0.77% | 0.82% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Towner, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Towner, North Dakota. 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 McHenry 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. Assessment notices in Towner 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 Towner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Towner is $598 in the 58788 zip code, while the lowest is also $598 in the same zip code, reflecting the uniformity in tax assessments within the area.
Average Towner Assessed Value
$62,250
Average Mchenry County Assessed Value
$74,300
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Towner, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58788 | $13,400 | $21,500 | $62,250 | $76,100 | $120,800 |
Source: Ownwell
Property Tax Bills Across Towner, North Dakota
In Towner, located in McHenry County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Towner can expect their property tax bills to vary significantly depending on the value of their property. For instance, the median home price in Towner is $62,250. Property tax bills range from the 25th percentile at $235 to the 75th percentile at $863, with the 90th percentile reaching $1,414. This variation illustrates how different factors, such as property size, location, and improvements, influence the overall tax bill. Compared to the national median property tax rate of 0.99%, Towner’s property tax rates can be seen as relatively moderate. Homeowners must budget for these taxes, as they are a crucial component of homeownership costs, impacting affordability and long-term financial planning.
Average Towner Tax Bill
$598
Average Mchenry County Tax Bill
$855
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Towner, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58788 | $142 | $235 | $598 | $863 | $1,414 |
Source: Ownwell