Mekinock, North Dakota Property Taxes
The median property tax rate in Mekinock, ND is 0.88%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Mekinock at $60,400, the typical annual property tax bill amounts to $469, significantly below the national median of $2,690. Property taxes in Mekinock 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 Mekinock'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 Mekinock 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
Mekinock, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$532
Ownwell’s Mekinock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mekinock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mekinock 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 Mekinock, North Dakota
Property taxes in Mekinock, North Dakota, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Mekinock is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Mekinock set these rates annually, and they can vary across different neighborhoods. Each year, Mekinock 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 Mekinock's effective property tax rate to other areas in Grand Forks County and the national median. For comparison, the zip code 58258 in Mekinock has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Mekinock 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 Mekinock Tax Rate
0.88%
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 Mekinock, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58258 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Mekinock, North Dakota
In Mekinock, 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 Assessor's Office 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 Mekinock, 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 Mekinock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mekinock is $60,400, with tax bills ranging from $260 at the 25th percentile to $1,312 at the 90th percentile. The zip code 58258 has both the highest and lowest median tax bill at $469.
Average Mekinock Assessed Value
$60,400
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 Mekinock, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58258 | $18,500 | $30,450 | $60,400 | $97,050 | $149,600 |
Source: Ownwell
Property Tax Bills Across Mekinock, North Dakota
In Mekinock, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by county assessors. The median home price in Mekinock is $60,400. Property tax rates are applied to this assessed value to determine the annual tax bill. For Mekinock, the tax bills range significantly, with the 25th percentile at $260 and reaching up to $1,312 at the 90th percentile. The median tax bill for the area stands at $469, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Mekinock benefit from relatively low property taxes, which can make homeownership more affordable compared to other regions. However, the variability in tax bills means that individual circumstances, such as property value and eligibility for exemptions, can significantly impact the amount owed annually.
Average Mekinock Tax Bill
$469
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 Mekinock, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58258 | $156 | $260 | $469 | $790 | $1,312 |
Source: Ownwell