Washburn, North Dakota Property Taxes
The median property tax rate in Washburn, ND is 1.28%, slightly lower than the North Dakota state median of 1.30% but still higher than the national median of 0.99%. With a median home value of $170,700 in Washburn, the typical annual property tax bill amounts to $1,897, which is below the national median of $2,690. Property taxes in Washburn are calculated based on the assessed value, often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Washburn'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 Washburn 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
Washburn, 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 WASHBURN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WASHBURN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WASHBURN 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 Washburn, North Dakota
Property taxes in Washburn, North Dakota, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Washburn is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Washburn set these rates annually, and they can vary across different neighborhoods. Each year, Washburn 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 Washburn's effective property tax rate to other areas in McLean County and the national median. For comparison, the zip code 58577 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these areas compare with Washburn 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 Washburn Tax Rate
1.28%
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 Washburn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58577 | 0.85% | 0.88% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Washburn, North Dakota
In Washburn, 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 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. In Washburn, 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 Washburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 58577 has the highest median tax bill at $1,897, which is above the national median property tax rate of 0.99%.
Average Washburn Assessed Value
$170,700
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 Washburn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58577 | $45,200 | $89,350 | $170,700 | $225,600 | $315,900 |
Source: Ownwell
Property Tax Bills Across Washburn, North Dakota
Property tax bills in Washburn, located in McLean County, ND, are calculated based on the assessed value of a property. The assessed value is derived from the property's market value, which is determined by local assessors. Homeowners in Washburn can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,106 and the 75th percentile tax bill at $2,631. At the higher end, the 90th percentile tax bill reaches up to $3,421. These tax bills are influenced by various factors, including the property's location, size, and condition, as well as the local tax rate set by the county. The median home price in Washburn is $170,700, which provides a baseline for calculating individual tax obligations. Compared to the national median property tax rate of 0.99%, homeowners in Washburn may find their tax rates to be relatively moderate. Understanding these factors helps homeowners anticipate their annual property tax expenses and manage their budgets accordingly.
Average Washburn Tax Bill
$1,897
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 Washburn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58577 | $524 | $1,106 | $1,897 | $2,631 | $3,421 |
Source: Ownwell