Powers Lake, North Dakota Property Taxes
The median property tax rate in Powers Lake, ND is 0.69%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Powers Lake at $143,800, the typical annual property tax bill reaches $1,024, which is below the national median of $2,690. Property taxes in Powers Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Powers Lake'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 Powers Lake 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
Powers Lake, 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 Powers Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powers Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powers Lake 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 Mountrail County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Powers Lake, North Dakota
Property taxes in Powers Lake, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powers Lake is 0.69%, lower than the U.S. national median of 0.99%. Local government entities within Powers Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powers Lake 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 Powers Lake's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58773 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Powers Lake provides valuable insights into the varying tax landscape across Mountrail County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powers Lake Tax Rate
0.69%
Average Mountrail County Tax Rate
0.60%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powers Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58773 | 0.46% | 0.62% | 0.69% | 0.72% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Powers Lake, North Dakota
In Powers Lake, 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 Mountrail County Assessor 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 Powers Lake, 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. In Powers Lake, the zip code with the highest median tax bill is 58773, while the lowest median tax bill is also in the same zip code, at $1,024. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Powers Lake, North Dakota
Source: Ownwell
$39,300
$110,100
$180,900
Average Powers Lake Assessed Value
$143,800
Average Mountrail County Assessed Value
$139,300
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powers Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58773 | $90,060 | $112,500 | $143,800 | $186,900 | $245,500 |
Source: Ownwell
Property Tax Bills Across Powers Lake, North Dakota
In Powers Lake, located in Mountrail County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and is typically a percentage of the market value of the property. For example, with a median home price of $143,800, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $703, while those in the 75th percentile face bills of approximately $1269. The tax bill can even reach up to $1603 for homeowners in the 90th percentile. Various factors influence the assessed value, including the property's size, location, and condition. Additionally, local government budgets and school funding needs can affect the tax rate. For homeowners, this means that property taxes can represent a significant annual expense, impacting their overall financial planning. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Powers Lake experience a diverse range of tax bills, reflecting the local economic conditions and property values.
Average Powers Lake Tax Bill
$1,024
Average Mountrail County Tax Bill
$783
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Powers Lake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58773 | $425 | $703 | $1,024 | $1,269 | $1,603 |
Source: Ownwell