Mchenry, North Dakota Property Taxes
The median property tax rate in McHenry, ND is 0.87%, which is notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in McHenry at $77,034, the typical annual property tax bill comes to $678, significantly below the national median of $2,690. Property taxes in McHenry are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding McHenry'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 McHenry 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
Mchenry, 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 McHenry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McHenry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McHenry 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 Mchenry, North Dakota
Property taxes in McHenry, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McHenry is 1.01%, higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within McHenry set these rates annually, and they can vary significantly across different neighborhoods. Each year, McHenry 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 McHenry's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58464 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with McHenry provides valuable insights into the varying tax landscape across Griggs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mchenry Tax Rate
0.87%
Average Griggs County Tax Rate
0.91%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mchenry, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58464 | 0.86% | 0.87% | 0.87% | 0.88% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Mchenry, North Dakota
In McHenry, 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 Griggs 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 McHenry, 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 McHenry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 58464, both at $678.
Average Mchenry Assessed Value
$77,034
Average Griggs County Assessed Value
$68,520
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mchenry, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58464 | $52,564 | $61,740 | $77,034 | $92,328 | $101,504 |
Source: Ownwell
Property Tax Bills Across Mchenry, North Dakota
In McHenry, located in Griggs County, ND, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the tax bill. For homeowners in McHenry, the median home price is $77,034, and property tax rates are relatively moderate compared to the national median property tax rate of 0.99%. Homeowners can expect their tax bills to vary depending on their property's assessed value. For example, the 25th percentile tax bill is $538, while the 75th percentile tax bill is $818. At the higher end, the 90th percentile tax bill reaches $902. These figures indicate that property taxes in McHenry can fluctuate based on the value of the home, impacting the overall cost of homeownership. Understanding these factors is crucial for homeowners as it helps them budget for annual expenses and ensures they are prepared for any changes in their property tax obligations.
Average Mchenry Tax Bill
$678
Average Griggs County Tax Bill
$614
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Mchenry, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58464 | $454 | $538 | $678 | $818 | $902 |
Source: Ownwell