Leeds, North Dakota Property Taxes
The median property tax rate in Leeds, ND is 1.43%, considerably higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Leeds, the typical annual property tax bill reaches $357, which is significantly lower than the national median of $2,690. Property taxes in Leeds are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leeds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Leeds 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
Leeds, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$358
$332
Ownwell’s Leeds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leeds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leeds 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 Leeds, North Dakota
Property taxes in Leeds, North Dakota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leeds is 1.43%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Leeds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeds 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 Leeds' effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58346 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Leeds provides valuable insights into the varying tax landscape across Benson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leeds Tax Rate
1.43%
Average Benson County Tax Rate
0.73%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58346 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Leeds, North Dakota
In Leeds, 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 Benson 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 Leeds, 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 Leeds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Leeds are both $357, found in the 58346 zip code.
Average Leeds Assessed Value
$25,000
Average Benson County Assessed Value
$18,850
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leeds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58346 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
Source: Ownwell
Property Tax Bills Across Leeds, North Dakota
In Leeds, located in Benson County, ND, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors, who evaluate the property's market value and apply an assessment ratio. For instance, with a median home price of $25,000, the tax bill is influenced by the local tax rate and any applicable exemptions or deductions. Homeowners in Leeds face a median property tax bill of $357, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax bill can be attributed to the modest home values in the area. Factors such as property size, location, and improvements can affect the assessed value, thus impacting the final tax bill. For homeowners, understanding these factors is crucial as they directly influence their annual financial obligations. With the highest and lowest median tax bills both at $357, Leeds provides a consistent and predictable property tax environment, helping homeowners plan their finances more effectively.
Average Leeds Tax Bill
$357
Average Benson County Tax Bill
$272
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58346 | $357 | $357 | $357 | $357 | $357 |
Source: Ownwell