Cogswell, North Dakota Property Taxes
The median property tax rate in Cogswell, ND is 1.51%, considerably higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Cogswell, the typical annual property tax bill reaches $464, which is significantly lower than the national median of $2,690. Property taxes in Cogswell are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cogswell'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 Cogswell 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
Cogswell, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$203
Ownwell’s Cogswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cogswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cogswell 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 Cogswell, North Dakota
Property taxes in Cogswell, 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 Cogswell is 1.51%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Cogswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cogswell 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 Cogswell's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58017 zip code has both the highest and lowest median property tax rate of 1.51%. Understanding how these cities compare with Cogswell provides valuable insights into the varying tax landscape across Sargent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cogswell Tax Rate
1.51%
Average Sargent County Tax Rate
1.49%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cogswell, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58017 | 1.00% | 1.04% | 1.51% | 2.10% | 5.61% |
Source: Ownwell
Property Tax Assessment Values Across Cogswell, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cogswell, 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 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 Cogswell, 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 Cogswell is $13,440, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $170, while the 75th percentile tax bill is $1,392. Notably, the highest and lowest median tax bills are both $464, found in the zip code 58017. 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 Cogswell Assessed Value
$13,440
Average Sargent County Assessed Value
$10,926
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cogswell, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58017 | $3,970 | $8,078 | $13,440 | $76,067 | $136,150 |
Source: Ownwell
Property Tax Bills Across Cogswell, North Dakota
In Cogswell, Sargent County, ND, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. This assessed value is a percentage of the market value and is used to calculate your tax bill. The median home price in Cogswell is $13,440, and the property tax rate is applied to this assessed value to determine the tax bill. Property tax bills in Cogswell vary significantly, with the 25th percentile tax bill at $170 and the 75th percentile reaching $1,392. At the 90th percentile, homeowners can expect to pay around $1,979. The highest and lowest median tax bill in the area is $464, which is consistent across different zip codes. These tax bills are crucial for homeowners as they impact the overall cost of owning property. Compared to the national median property tax rate of 0.99%, Cogswell's property taxes can be considered relatively moderate, making it an attractive location for potential homeowners looking for affordable property taxes.
Average Cogswell Tax Bill
$464
Average Sargent County Tax Bill
$185
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Cogswell, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58017 | $101 | $170 | $464 | $1,392 | $1,979 |
Source: Ownwell