Parshall, North Dakota Property Taxes
The median property tax rate in Parshall, ND is 0.60%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $121,600 in Parshall, the typical annual property tax bill is $724, which is well below the national median of $2,690. Property taxes in Parshall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Parshall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Parshall or another part of Mountrail County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parshall, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$730
Ownwell’s Parshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parshall 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 Parshall, North Dakota
Property taxes in Parshall, 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 Parshall is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Parshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parshall 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 Parshall's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58770 zip code has the highest median property tax rate of 0.60%, while the same 58770 zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Parshall provides valuable insights into the varying tax landscape across Mountrail County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parshall Tax Rate
0.60%
Average Mountrail County Tax Rate
0.60%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parshall, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58770 | 0.51% | 0.56% | 0.60% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Parshall, North Dakota
In Parshall, 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 Mountrail 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 Parshall, 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. The highest median tax bill in Parshall is $724 in the 58770 zip code, while the lowest is also $724 in the same zip code. Being aware of these valuation processes in Parshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parshall Assessed Value
$121,600
Average Mountrail County Assessed Value
$139,300
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parshall, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58770 | $47,170 | $71,150 | $121,600 | $185,475 | $254,060 |
Source: Ownwell
Property Tax Bills Across Parshall, North Dakota
In Parshall, located in Mountrail County, ND, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and typically reflects a percentage of the property's market value. For instance, with a median home price of $121,600, local tax rates are applied to this assessed value to determine the tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Parshall can expect their property tax bills to vary. For example, the 25th percentile tax bill is around $430, while the 75th percentile reaches up to $1,109, and the 90th percentile can be as high as $1,600. These property taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Parshall experience a range of tax bills, impacting their overall financial planning and cost of living.
Average Parshall Tax Bill
$724
Average Mountrail County Tax Bill
$783
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Parshall, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58770 | $297 | $430 | $724 | $1,109 | $1,600 |
Source: Ownwell