Rhame, North Dakota Property Taxes
The median property tax rate in Rhame, ND is 0.69%, considerably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Rhame, the typical annual property tax bill is $259, significantly below the national median of $2,690. Property taxes in Rhame 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 Rhame'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 Rhame or another part of Bowman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rhame, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$278
Ownwell’s Rhame Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rhame with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rhame 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 Rhame, North Dakota
Property taxes in Rhame, 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 Rhame is 0.69%, which is lower than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Rhame set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rhame 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. Understanding how Rhame's effective property tax rate compares to other areas within Bowman County and the national median offers valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rhame Tax Rate
0.69%
Average Bowman County Tax Rate
1.18%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rhame, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58651 | 0.69% | 0.69% | 0.69% | 0.93% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Rhame, North Dakota
In Rhame, 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 Bowman 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 Rhame, 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 Rhame helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bowman County are both $259 in the 58651 zip code.
Average Rhame Assessed Value
$40,320
Average Bowman County Assessed Value
$37,604
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rhame, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58651 | $2,630 | $17,688 | $40,320 | $78,624 | $91,336 |
Source: Ownwell
Property Tax Bills Across Rhame, North Dakota
In Rhame, located in Bowman County, ND, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the market value of a home and then apply an assessment ratio. For homeowners in Rhame, the median home price stands at $40,320. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions. For example, the 25th percentile tax bill in Rhame is $65, while the 75th percentile tax bill is $358, and the 90th percentile tax bill reaches $491. These figures indicate the range of what homeowners might expect to pay annually. Compared to the national median property tax rate of 0.99%, Rhame's property tax bills are relatively modest. This affordability can significantly impact homeowners, making it easier to manage annual expenses and maintain their properties.
Average Rhame Tax Bill
$259
Average Bowman County Tax Bill
$342
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Rhame, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58651 | $15 | $65 | $259 | $358 | $491 |
Source: Ownwell