Buxton, North Dakota Property Taxes
The median property tax rate in Buxton, ND is 1.01%, slightly above the national median of 0.99% but lower than North Dakota's state median of 1.30%. With a median home value of $66,000 in Buxton, the typical annual property tax bill amounts to $666, which is significantly below the national median of $2,690. Property taxes in Buxton are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Buxton'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 Buxton or another part of Traill County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buxton, 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 Buxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buxton 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 Buxton, North Dakota
Property taxes in Buxton, North Dakota, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Buxton is 1.01%, which is higher than the U.S. national median of 0.99%. Local government entities in Buxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buxton 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 Buxton's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58218 has both the highest and lowest median property tax rate of 1.01%. Understanding how these areas compare with Buxton provides valuable insights into the varying tax landscape across Traill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buxton Tax Rate
1.01%
Average Traill County Tax Rate
1.53%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buxton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58218 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Buxton, North Dakota
In Buxton, 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 local appraisal authorities in Traill County 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 Buxton, 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 Buxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $666, found in the 58218 zip code.
Average Buxton Assessed Value
$66,000
Average Traill County Assessed Value
$75,500
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buxton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58218 | $66,000 | $66,000 | $66,000 | $66,000 | $66,000 |
Source: Ownwell
Property Tax Bills Across Buxton, North Dakota
In Buxton, Traill County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $66,000, the property tax bill is typically around $666. This figure is consistent across various percentiles, indicating a stable tax environment in the area. Several factors influence the assessed value, including the property's market value, location, and any improvements made. The local tax rate in Buxton is relatively high compared to the national median property tax rate of 0.99%, which can significantly affect homeowners' annual expenses. Higher property taxes can impact homeowners by increasing the cost of living, but they also contribute to local services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners better anticipate their financial obligations and the benefits received from their tax contributions.
Average Buxton Tax Bill
$666
Average Traill County Tax Bill
$1,173
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Buxton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58218 | $666 | $666 | $666 | $666 | $666 |
Source: Ownwell