Sheldon, North Dakota Property Taxes
The median property tax rate in Sheldon, ND is 1.11%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With the median home value in Sheldon at $44,900, the typical annual property tax bill is around $482, significantly below the national median of $2,690. Property taxes in Sheldon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sheldon'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 Sheldon or another part of Ransom County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sheldon, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$498
Ownwell’s Sheldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheldon 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 Sheldon, North Dakota
Property taxes in Sheldon, 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 Sheldon is 1.11%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Sheldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheldon 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 Sheldon's effective property tax rate to other areas in North Dakota and the national median. For comparison, the 58068 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these areas compare with Sheldon 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 Sheldon Tax Rate
1.11%
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 Sheldon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58068 | 0.89% | 0.90% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Sheldon, North Dakota
In Sheldon, 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 Sheldon, 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 Sheldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $482, found in the 58068 zip code.
Average Sheldon Assessed Value
$44,900
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 Sheldon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58068 | $5,250 | $18,925 | $44,900 | $113,075 | $237,380 |
Source: Ownwell
Property Tax Bills Across Sheldon, North Dakota
In Sheldon, located in Ransom 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 reflects a percentage of the property's market value. Homeowners in Sheldon can expect their property tax bills to vary widely, with the 25th percentile at $218 and the 75th percentile reaching $1,041. At the 90th percentile, tax bills can go up to $2,122. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Sheldon is $44,900, which is relatively low compared to national figures. This lower home value generally results in lower property tax bills for homeowners. However, even within Sheldon, there can be significant variation. The highest and lowest median tax bills in the area are both $482, indicating some consistency within certain zip codes. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Sheldon Tax Bill
$482
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 Sheldon, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58068 | $65 | $218 | $482 | $1,041 | $2,122 |
Source: Ownwell