Hansboro, North Dakota Property Taxes
The median property tax rate in Hansboro, ND is 1.47%, 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 Hansboro, the typical annual property tax bill reaches $40, which is significantly lower than the national median of $2,690. Property taxes in Hansboro 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 Hansboro'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 Hansboro or another part of Towner County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hansboro, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$42
-$438
Ownwell’s Hansboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hansboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hansboro 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 Hansboro, North Dakota
Property taxes in Hansboro, 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 Hansboro is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hansboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hansboro 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 Hansboro's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code with the highest median property tax rate in Towner County is 58339, which also has a tax rate of 1.47%. Understanding how these areas compare with Hansboro provides valuable insights into the varying tax landscape across Towner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hansboro Tax Rate
1.47%
Average Towner County Tax Rate
1.52%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hansboro, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58339 | 1.40% | 1.43% | 1.47% | 1.51% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Hansboro, North Dakota
In Hansboro, 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 Towner 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 Hansboro, 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 example, the median home price in Hansboro is $2,845, with the 25th percentile tax bill at $26 and the 75th percentile tax bill at $54. 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 Hansboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hansboro Assessed Value
$2,845
Average Towner County Assessed Value
$33,175
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hansboro, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58339 | $1,209 | $1,822 | $2,845 | $3,868 | $4,481 |
Source: Ownwell
Property Tax Bills Across Hansboro, North Dakota
In Hansboro, located in Towner County, ND, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined based on the market value of the home, which in Hansboro has a median home price of $2,845. This assessed value is then subjected to the local tax rate to compute the tax bill. Homeowners in Hansboro can expect their property tax bills to vary significantly. For example, those in the 25th percentile pay around $26, while those in the 75th percentile see bills closer to $54. At the 90th percentile, the tax bill can reach up to $62. These figures highlight the range of property tax burdens within the city, influenced by property value and local tax rates. Compared to the national median property tax rate of 0.99%, Hansboro's property tax rates reflect a localized approach that considers the unique economic conditions of the area. This system ensures that homeowners contribute equitably to local services and infrastructure based on their property's assessed value.
Average Hansboro Tax Bill
$40
Average Towner County Tax Bill
$453
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Hansboro, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58339 | $18 | $26 | $40 | $54 | $62 |
Source: Ownwell