Carpio, North Dakota Property Taxes
The median property tax rate in Carpio, ND is 0.97%, slightly lower than the national median of 0.99% and significantly below the North Dakota state median of 1.30%. With a median home value of $121,500 in Carpio, the typical annual property tax bill is $1,254, which is less than the national median of $2,690. Property taxes in Carpio are determined based on the tax assessed value, often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Gaining a thorough understanding of Carpio'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 Carpio 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
Carpio, 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 Carpio Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Carpio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carpio to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, offering clarity and peace of mind. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Carpio, North Dakota
Property taxes in Carpio, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carpio is 1.02%, higher than both the North Dakota state median of 0.88% and the U.S. national median of 0.99%. Local government entities within Carpio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carpio 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 Carpio's effective property tax rate to other counties in North Dakota and the national median. For comparison, the highest median property tax rate in Ward County is 1.02%, while the lowest median tax rate is also 1.02%. Understanding how these cities compare with Carpio provides valuable insights into the varying tax landscape across Ward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carpio Tax Rate
0.97%
Average Ward County Tax Rate
1.65%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carpio, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58725 | 0.93% | 0.94% | 0.97% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Carpio, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carpio, ND. 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 Ward 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 Carpio, 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. For example, the highest median tax bill in Carpio is $1254 in zip code 58725. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carpio Assessed Value
$121,500
Average Ward County Assessed Value
$201,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carpio, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58725 | $52,000 | $97,500 | $121,500 | $256,000 | $444,300 |
Source: Ownwell
Property Tax Bills Across Carpio, North Dakota
In Carpio, ND, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to generate the annual tax bill. For homeowners in Carpio, several factors influence the tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local taxing authorities. The median home price in Carpio is $121,500, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $819, while the 75th percentile reaches $2,242, and the 90th percentile can be as high as $3,268. These variations reflect differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Carpio's property tax bills can have a considerable impact on homeowners' annual expenses. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Carpio Tax Bill
$1,254
Average Ward County Tax Bill
$2,940
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Carpio, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58725 | $519 | $819 | $1,254 | $2,242 | $3,268 |
Source: Ownwell