Turtle Lake, North Dakota Property Taxes
The median property tax rate in Turtle Lake, ND is 1.12%, which is higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With a median home value of $76,600 in Turtle Lake, the typical annual property tax bill amounts to $818, significantly below the national median of $2,690. Property taxes in Turtle Lake are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Gaining a thorough understanding of Turtle Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Turtle Lake or another part of McLean County, familiarizing yourself with the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Turtle Lake, 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 Turtle Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turtle Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turtle Lake 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 Turtle Lake, North Dakota
Property taxes in Turtle Lake, 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 Turtle Lake is 1.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within Turtle Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turtle Lake 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 Turtle Lake's effective property tax rate to other areas in McLean County and the national median. For comparison, the zip code 58575 has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Turtle Lake 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 Turtle Lake Tax Rate
1.12%
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 Turtle Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58575 | 0.88% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Turtle Lake, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Turtle Lake, 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 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 Turtle Lake, 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 Turtle Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Turtle Lake are both $818 in the 58575 zip code.
Property Tax Assessment Values Across Turtle Lake, North Dakota
Source: Ownwell
$38,100
$153,375
$268,650
Average Turtle Lake Assessed Value
$76,600
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 Turtle Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58575 | $25,580 | $44,900 | $76,600 | $114,800 | $169,180 |
Source: Ownwell
Property Tax Bills Across Turtle Lake, North Dakota
In Turtle Lake, McLean County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Homeowners in Turtle Lake can expect their tax bills to vary significantly depending on the value of their property. For instance, the median home price is $76,600, and tax bills range from the 25th percentile at $457 to the 90th percentile at $1,700. The property tax rate in Turtle Lake is influenced by various factors, including local government budgets, school funding, and public service needs. These taxes are crucial for maintaining community infrastructure and services, impacting homeowners by contributing to the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Turtle Lake's tax rates provide a point of comparison for residents to understand their tax obligations relative to other regions.
Average Turtle Lake Tax Bill
$818
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 Turtle Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58575 | $267 | $457 | $818 | $1,269 | $1,700 |
Source: Ownwell