Grafton, North Dakota Property Taxes
The median property tax rate in Grafton, ND is 1.87%, significantly higher than both the national median of 0.99% and North Dakota's state median of 1.30%. With the median home value in Grafton at $60,400, the typical annual property tax bill reaches $1,127, surpassing the national median of $2,690. Property taxes in Grafton 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 Grafton'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 Grafton 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
Grafton, 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 Grafton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grafton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grafton 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 Grafton, North Dakota
Property taxes in Grafton, North Dakota, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Grafton is 1.87%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grafton set these rates annually, and they can vary across different neighborhoods. Each year, Grafton 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 Grafton's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58237 has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these cities compare with Grafton 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 Grafton 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 Grafton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58237 | 1.87% | 1.87% | 1.87% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Grafton, North Dakota
In Grafton, 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 Grafton, 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 Grafton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 58237, with a value of $1127.
Average Grafton Assessed Value
$60,400
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 Grafton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58237 | $40,780 | $46,800 | $60,400 | $79,000 | $137,140 |
Source: Ownwell
Property Tax Bills Across Grafton, North Dakota
In Grafton, located in Walsh County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Grafton, the median home price stands at $60,400. The property tax bill can vary significantly, with the 25th percentile bill at $857 and the 75th percentile reaching $1,441. The 90th percentile tax bill can go up to $2,558. Compared to the national median property tax rate of 0.99%, Grafton's property taxes can be relatively moderate, offering some financial relief to homeowners. However, the specific tax burden will depend on the individual property's assessed value and any applicable exemptions. This system ensures that property taxes are distributed proportionately based on property values, affecting homeowners differently depending on their property's worth.
Average Grafton Tax Bill
$1,127
Average Walsh County Tax Bill
$926
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Grafton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58237 | $716 | $857 | $1,127 | $1,441 | $2,558 |
Source: Ownwell