Norwich, North Dakota Property Taxes
The median property tax rate in Norwich, ND is 0.99%, matching the national median but lower than the North Dakota state median of 1.30%. With a median home value of $277,000 in Norwich, the typical annual property tax bill amounts to $2,595, which is below the national median of $2,690. Property taxes in Norwich are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a deeper understanding of Norwich'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 Norwich 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
Norwich, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,742
Ownwell’s Norwich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norwich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norwich 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 Norwich, North Dakota
Property taxes in Norwich, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norwich is 1.57%, higher than both the North Dakota state median of 1.01% and the U.S. national median of 0.99%. Local government entities within Norwich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norwich 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 Norwich's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58768 zip code has the highest median property tax rate of 1.57%, while the 58768 zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Norwich 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 Norwich Tax Rate
0.99%
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 Norwich, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58768 | 0.85% | 0.85% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Norwich, North Dakota
In Norwich, 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 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 Norwich, 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. In Ward County, the zip code with the highest median tax bill is 58768, with a median tax bill of $2,595. Conversely, the zip code with the lowest median tax bill is also 58768, with the same median tax bill of $2,595. Being aware of these valuation processes in Norwich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Norwich Assessed Value
$277,000
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 Norwich, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58768 | $152,800 | $234,000 | $277,000 | $355,000 | $416,800 |
Source: Ownwell
Property Tax Bills Across Norwich, North Dakota
In Norwich, Ward County, ND, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $277,000, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $2,029, while at the 75th percentile, it rises to approximately $3,301. The top 10% of tax bills can reach up to $4,049. Several factors influence these tax bills, including property size, location, and any applicable exemptions or abatements. For homeowners, understanding these elements is crucial as they directly impact the amount owed each year. Compared to the national median property tax rate of 0.99%, Norwich's rates can be seen as competitive, especially considering the specific assessed values and local tax policies. This system ensures that property taxes are proportionate to property values, providing a fair contribution to community services and infrastructure.
Average Norwich Tax Bill
$2,595
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 Norwich, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58768 | $1,372 | $2,029 | $2,595 | $3,301 | $4,049 |
Source: Ownwell