Lisbon, North Dakota Property Taxes
The median property tax rate in Lisbon, ND, is 1.66%, significantly higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $116,200 in Lisbon, the typical annual property tax bill reaches $1,642, which is still below the national median of $2,690. Property taxes in Lisbon are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Lisbon'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 Lisbon 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
Lisbon, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$1,929
Ownwell’s Lisbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon 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 Lisbon, North Dakota
Property taxes in Lisbon, North Dakota, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other areas in North Dakota and the national median. For comparison, the ZIP code 58054 has the highest and lowest median property tax rate of 1.66%. Understanding how these areas compare with Lisbon provides valuable insights into the varying tax landscape across Ransom County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lisbon Tax Rate
1.66%
Average Ransom County Tax Rate
1.65%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | 0.89% | 0.93% | 1.66% | 1.74% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, North Dakota
In Lisbon, 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 Ransom 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 Lisbon, 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. In Lisbon, the median home price is $116,200, with tax bills ranging from $997 at the 25th percentile to $3,402 at the 90th percentile. The highest and lowest median tax bill in the area both stand at $1,642 in the 58054 zip code. Being aware of these valuation processes in Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lisbon Assessed Value
$116,200
Average Ransom County Assessed Value
$96,500
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lisbon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | $37,100 | $69,250 | $116,200 | $171,900 | $243,100 |
Source: Ownwell
Property Tax Bills Across Lisbon, North Dakota
In Lisbon, located in Ransom 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 Lisbon face a range of property tax bills, with the 25th percentile at $997 and the 75th percentile reaching $2,534. At the higher end, the 90th percentile tax bill can be as much as $3,402. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The median home price in Lisbon is $116,200, and the county's median property tax bill stands at $1,642, which is above the national median property tax rate of 0.99%. This means that homeowners in Lisbon may pay a higher percentage of their home's value in property taxes compared to the national average. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Lisbon Tax Bill
$1,642
Average Ransom County Tax Bill
$1,335
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | $546 | $997 | $1,642 | $2,534 | $3,402 |
Source: Ownwell