Forest River, North Dakota Property Taxes
The median property tax rate in Forest River, ND is 0.99%, aligning with the national median of 0.99% but lower than the North Dakota state median of 1.30%. With the median home value in Forest River at $270,550, the typical annual property tax bill reaches $2,742, surpassing the national median of $2,690. Property taxes in Forest River are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Forest River'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 Forest River 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
Forest River, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,678
Ownwell’s Forest River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest River 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 Forest River, North Dakota
Property taxes in Forest River, 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 Forest River is 0.99%, aligning with both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Forest River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forest River 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 Forest River's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58233 has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Forest River provides valuable insights into the varying tax landscape across Grand Forks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forest River Tax Rate
0.99%
Average Grand Forks County Tax Rate
1.49%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | 0.94% | 0.96% | 0.99% | 1.02% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Forest River, North Dakota
In Forest River, 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 Grand Forks 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 Forest River, 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 Forest River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,742 in the 58233 zip code, while the lowest median tax bill is also $2,742 in the same zip code.
Property Tax Assessment Values Across Forest River, North Dakota
Source: Ownwell
$31,300
$150,925
$270,550
Average Forest River Assessed Value
$270,550
Average Grand Forks County Assessed Value
$201,100
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $185,470 | $217,375 | $270,550 | $323,725 | $355,630 |
Source: Ownwell
Property Tax Bills Across Forest River, North Dakota
In Forest River, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors who evaluate various factors such as the size, location, and condition of the home. For homeowners, the tax rate in Grand Forks County is a crucial element that impacts the final bill. The median home price in this area is $270,550, and the property tax rate is applied to this assessed value to determine the tax amount. Homeowners in Forest River can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $2,129, while at the 75th percentile, it rises to approximately $3,356. Those in the 90th percentile might see bills as high as $3,724. Compared to the national median property tax rate of 0.99%, Forest River's rates reflect the local economic and real estate conditions, influencing how much homeowners are required to pay annually. This variability in tax bills can significantly affect household budgets and long-term financial planning for residents.
Average Forest River Tax Bill
$2,742
Average Grand Forks County Tax Bill
$2,953
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Forest River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $1,761 | $2,129 | $2,742 | $3,356 | $3,724 |
Source: Ownwell