Tolna, North Dakota Property Taxes
The median property tax rate in Tolna, ND is 0.96%, slightly below the national median of 0.99% and significantly lower than North Dakota's state median of 1.30%. With the median home value in Tolna at $71,200, the typical annual property tax bill amounts to $684, which is considerably less than the national median of $2,690. Property taxes in Tolna are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural land. Understanding Tolna'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 Tolna or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tolna, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$684
Ownwell’s Tolna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tolna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tolna 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 Tolna, North Dakota
Property taxes in Tolna, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tolna is 1.22%, significantly higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Tolna set these rates annually, and they can vary across different neighborhoods. Each year, Tolna 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 Tolna's effective property tax rate to other counties in North Dakota and the national median. For comparison, the highest median property tax rate in the region is 1.22%, while the lowest median tax rate is also 1.22%. Understanding how these cities compare with Tolna provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tolna Tax Rate
0.96%
Average Ramsey County Tax Rate
1.26%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Tolna, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tolna, North Dakota. The market value represents 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 local 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 Tolna, 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. For instance, the median home price in Tolna is $71,200, with median tax bills generally around $684. The zip code 58380 has both the highest and lowest median tax bills at $684. 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 Tolna Assessed Value
$71,200
Average Ramsey County Assessed Value
$147,600
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $71,200 | $71,200 | $71,200 | $71,200 | $71,200 |
Source: Ownwell
Property Tax Bills Across Tolna, North Dakota
In Tolna, located in Ramsey County, ND, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Tolna is $71,200. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners in Tolna, the property tax bill at the 25th, 75th, and 90th percentiles is consistently $684, which is notably lower than the national median property tax rate of 0.99%. This relatively low property tax burden can make homeownership more affordable in Tolna compared to other regions. The uniformity in the tax bill across different percentiles suggests a stable and predictable tax environment for homeowners. Understanding these factors helps residents anticipate their annual financial obligations and plan accordingly.
Average Tolna Tax Bill
$684
Average Ramsey County Tax Bill
$1,862
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $684 | $684 | $684 | $684 | $684 |
Source: Ownwell