Forest River, North Dakota Property Taxes
The median property tax rate in Forest River, ND, is 1.87%, significantly higher than both the national median of 0.99% and North Dakota's state median of 1.30%. With a median home value of $57,600, the typical annual property tax bill in Forest River reaches $1,075, which is below the national median of $2,690. Property taxes in Forest River are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Forest River'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 Forest River 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
Forest River, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$1,077
Ownwell’s Forest River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest River 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 Forest River, North Dakota
Property taxes in Forest River, North Dakota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Forest River is 1.87%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Forest River set these rates annually, and they can vary considerably across different neighborhoods. Each year, Forest River 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 Forest River's effective property tax rate to other counties in North Dakota and the national median. For comparison, the highest median property tax rate in Walsh County is 1.87%, while the lowest median tax rate is also 1.87%. Understanding how these cities compare with Forest River provides valuable insights into the varying tax landscape across Walsh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forest River Tax Rate
1.87%
Average Walsh County Tax Rate
1.87%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | 1.87% | 1.87% | 1.87% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Forest River, North Dakota
In Forest River, 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 Walsh 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 Forest River, 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. The highest and lowest median tax bills in Forest River both stand at $1075, specifically in the 58233 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Forest River, North Dakota
Source: Ownwell
$43,000
$101,500
$160,000
Average Forest River Assessed Value
$57,600
Average Walsh County Assessed Value
$50,800
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $57,600 | $57,600 | $57,600 | $57,600 | $57,600 |
Source: Ownwell
Property Tax Bills Across Forest River, North Dakota
In Forest River, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value of the property. For example, if the median home price in Forest River is $57,600, the tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within Walsh County, any applicable exemptions, and the specific tax rate set by local taxing authorities. In Forest River, the median property tax bill is consistently $1,075, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, making it essential to understand how local property taxes are calculated and managed. By staying informed, homeowners can better anticipate their financial obligations and potentially explore options for tax relief or exemptions.
Average Forest River Tax Bill
$1,075
Average Walsh County Tax Bill
$926
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $1,075 | $1,075 | $1,075 | $1,075 | $1,075 |
Source: Ownwell