Monango, North Dakota Property Taxes
The median property tax rate in Monango, ND is 1.31%, slightly higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Monango, the typical annual property tax bill reaches $98, which is significantly lower than the national median of $2,690. Property taxes in Monango are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Monango'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 Monango 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
Monango, 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 Monango Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monango with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monango 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 Monango, North Dakota
Property taxes in Monango, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monango is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Monango set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monango 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 Monango's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58436 zip code has the highest median property tax rate of 1.31%, while the same zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Monango provides valuable insights into the varying tax landscape across Dickey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monango Tax Rate
1.31%
Average Dickey County Tax Rate
1.30%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monango, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58436 | 1.08% | 1.23% | 1.31% | 1.32% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Monango, North Dakota
In Monango, 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 local 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 Monango, 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 Monango helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are $1,240 and $40, respectively.
Average Monango Assessed Value
$7,450
Average Dickey County Assessed Value
$49,700
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monango, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58436 | $1,520 | $3,050 | $7,450 | $51,550 | $124,540 |
Source: Ownwell
Property Tax Bills Across Monango, North Dakota
Property tax bills in Monango, located in Dickey County, ND, are calculated based on the assessed value of the property, which is determined by local assessors. The median home price in Monango is $7,450. Property taxes are then applied to this assessed value at a rate set by the local government. This rate can vary but is influenced by the area's budgetary needs and tax policies. Several factors contribute to the final tax bill, including the property's market value, any applicable exemptions, and the local tax rate. For homeowners, this means the tax bill can vary significantly. For instance, at the 25th percentile, property tax bills are around $40, while at the 75th percentile, they can reach $536. At the 90th percentile, homeowners might see bills as high as $1,240. These variations highlight the impact of property value assessments and local tax rates on homeowners' annual financial responsibilities. Comparing these figures to the national median property tax rate of 0.99% provides context for understanding the relative tax burden in Monango.
Average Monango Tax Bill
$98
Average Dickey County Tax Bill
$656
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Monango, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58436 | $20 | $40 | $98 | $536 | $1,240 |
Source: Ownwell