Coleharbor, North Dakota Property Taxes
The median property tax rate in Coleharbor, ND is 0.94%, slightly below the national median of 0.99% and significantly lower than the North Dakota state median of 1.30%. With the median home value in Coleharbor at $187,100, the typical annual property tax bill amounts to $1,807, which is less than the national median of $2,690. Property taxes in Coleharbor are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Coleharbor'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 Coleharbor or another part of McLean County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coleharbor, North Dakota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,600
Ownwell’s Coleharbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coleharbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coleharbor 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 Coleharbor, North Dakota
Property taxes in Coleharbor, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coleharbor is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Coleharbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coleharbor 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 Coleharbor's effective property tax rate to other areas in McLean County and the national median. For comparison, the 58531 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Coleharbor provides valuable insights into the varying tax landscape across McLean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coleharbor Tax Rate
0.94%
Average Mclean County Tax Rate
1.12%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coleharbor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58531 | 0.91% | 0.93% | 0.94% | 0.99% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Coleharbor, North Dakota
In Coleharbor, 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 McLean 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 Coleharbor, 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 Coleharbor 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 $1807, found in the 58531 zip code.
Property Tax Assessment Values Across Coleharbor, North Dakota
Source: Ownwell
$38,100
$153,375
$268,650
Average Coleharbor Assessed Value
$187,100
Average Mclean County Assessed Value
$136,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coleharbor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58531 | $46,900 | $100,250 | $187,100 | $295,425 | $408,250 |
Source: Ownwell
Property Tax Bills Across Coleharbor, North Dakota
In Coleharbor, McLean County, ND, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in this area stands at $187,100. Local tax rates are applied to this assessed value to determine the final tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $1,054, while those in the 75th percentile may see bills as high as $2,819. At the 90th percentile, tax bills can reach up to $3,770. Understanding how these taxes are calculated is essential for homeowners, as it directly impacts their annual financial obligations. The property tax rate in Coleharbor is relatively favorable compared to the national median property tax rate of 0.99%, offering a more manageable expense for residents. This system ensures that property taxes are proportionate to the value of the property, providing a fair and equitable means of funding local services and infrastructure.
Average Coleharbor Tax Bill
$1,807
Average Mclean County Tax Bill
$1,469
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Coleharbor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58531 | $577 | $1,054 | $1,807 | $2,819 | $3,770 |
Source: Ownwell