Hazen, North Dakota Property Taxes
The median property tax rate in Hazen, ND is 0.70%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Hazen at $103,927, the typical annual property tax bill is $610, which is well below the national median of $2,690. Property taxes in Hazen 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 Hazen'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 Hazen 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
Hazen, 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 Hazen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hazen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hazen 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 Hazen, North Dakota
Property taxes in Hazen, 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 Hazen is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Hazen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hazen 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 Hazen's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58545 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Hazen provides valuable insights into the varying tax landscape across Oliver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hazen Tax Rate
0.70%
Average Oliver County Tax Rate
0.70%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hazen, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58545 | 0.67% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Hazen, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hazen, 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 Oliver 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 Hazen, 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. The median home price in Hazen is $103,927, with tax bills ranging from $432 at the 25th percentile to $1,730 at the 90th percentile. The highest and lowest median tax bills are both $610, found in the 58545 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hazen Assessed Value
$103,927
Average Oliver County Assessed Value
$137,505
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hazen, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58545 | $18,262 | $65,471 | $103,927 | $195,019 | $250,995 |
Source: Ownwell
Property Tax Bills Across Hazen, North Dakota
In Hazen, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local property tax rate is applied to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Hazen, the median home price stands at $103,927. Property tax bills can vary significantly, with the 25th percentile paying around $432 and the 75th percentile reaching up to $1,355. At the 90th percentile, tax bills can be as high as $1,730. Comparatively, the highest and lowest median tax bills in the region are both $610, highlighting some uniformity within the area. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. The rates in Hazen provide a useful benchmark, especially when compared to the national median property tax rate of 0.99%.
Average Hazen Tax Bill
$610
Average Oliver County Tax Bill
$1,042
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Hazen, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58545 | $132 | $432 | $610 | $1,355 | $1,730 |
Source: Ownwell