Mcleod, North Dakota Property Taxes
The median property tax rate in McLeod, ND is 0.87%, which is notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in McLeod at $30,200, the typical annual property tax bill amounts to $236, significantly below the national median of $2,690. Property taxes in McLeod are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding McLeod'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 McLeod 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
Mcleod, 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 McLeod Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McLeod with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLeod 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 Mcleod, North Dakota
Property taxes in McLeod, 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 McLeod is 1.10%, higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within McLeod set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLeod 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 McLeod's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58057 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these areas compare with McLeod 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 Mcleod Tax Rate
0.87%
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | 0.86% | 0.86% | 0.87% | 0.92% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Mcleod, North Dakota
In McLeod, 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 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 McLeod, 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 McLeod helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 58057, with a bill of $236.00, which is significantly lower than the national median property tax rate of 0.99%.
Average Mcleod Assessed Value
$30,200
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | $2,300 | $9,750 | $30,200 | $99,100 | $182,400 |
Source: Ownwell
Property Tax Bills Across Mcleod, North Dakota
In McLeod, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in McLeod is $30,200. Property taxes are then applied to this assessed value using the local tax rate. For instance, McLeod's highest median tax bill is $236, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, applicable exemptions, and the local tax rate. Homeowners in McLeod experience a range of tax bills, with the 25th percentile paying around $69 and the 75th percentile paying up to $894. At the 90th percentile, tax bills can reach as high as $1,599. This variation in tax bills can impact homeowners differently, depending on their property's assessed value and eligibility for exemptions. Lower property taxes can make homeownership more affordable in McLeod compared to other regions with higher tax rates.
Average Mcleod Tax Bill
$236
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | $17 | $69 | $236 | $894 | $1,599 |
Source: Ownwell