Ruso, North Dakota Property Taxes
The median property tax rate in Ruso, ND is 0.96%, slightly below the national median of 0.99% and significantly lower than the North Dakota state median of 1.30%. With the median home value in Ruso at $118,650, the typical annual property tax bill is $1,110, which is well below the national median of $2,690. Property taxes in Ruso are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ruso'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 Ruso 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
Ruso, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,139
Ownwell’s Ruso Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruso with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruso 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 Ruso, North Dakota
Property taxes in Ruso, 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 Ruso is 0.96%, which is lower than the U.S. national median of 0.99%. Local government entities within Ruso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruso 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 Ruso's effective property tax rate to other areas in McLean County and the national median. For comparison, the zip code 58778 has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Ruso provides valuable insights into the varying tax landscape across McLean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruso Tax Rate
0.96%
Average Mclean County Tax Rate
1.12%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruso, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58778 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Ruso, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ruso, North Dakota. 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 McLean 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. 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. For instance, the median home price in Ruso is $118,650, with tax bills ranging from $784 at the 25th percentile to $1,558 at the 75th percentile, and up to $1,955 at the 90th percentile. The zip code 58778 has both the highest and lowest median tax bill at $1,110. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Ruso Assessed Value
$118,650
Average Mclean County Assessed Value
$136,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruso, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58778 | $32,340 | $81,750 | $118,650 | $161,275 | $203,950 |
Source: Ownwell
Property Tax Bills Across Ruso, North Dakota
In Ruso, McLean County, ND, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $118,650, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Typically, the 25th percentile tax bill is around $784, while the 75th percentile reaches up to $1,558. For properties in the 90th percentile, the tax bill can be as high as $1,955. These figures indicate that property tax bills in Ruso can vary significantly, impacting homeowners' annual financial planning. Compared to the national median property tax rate of 0.99%, McLean County's tax rates offer a comparative perspective for homeowners. Understanding these factors helps residents anticipate their financial obligations and plan accordingly, ensuring they are prepared for their annual property tax bills.
Average Ruso Tax Bill
$1,110
Average Mclean County Tax Bill
$1,469
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruso, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58778 | $280 | $784 | $1,110 | $1,558 | $1,955 |
Source: Ownwell