Drayton, North Dakota Property Taxes
The median property tax rate in Drayton, ND is 1.59%, considerably higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Drayton at $31,589, the typical annual property tax bill reaches $492, which is significantly lower than the national median of $2,690. Property taxes in Drayton 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 Drayton'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 Drayton 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
Drayton, 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 Drayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drayton 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 Drayton, North Dakota
Property taxes in Drayton, North Dakota, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Drayton is 1.59%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Drayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drayton 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 Drayton's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58225 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Drayton provides valuable insights into the varying tax landscape across Pembina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Drayton Tax Rate
1.59%
Average Pembina County Tax Rate
1.35%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drayton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58225 | 1.48% | 1.55% | 1.59% | 1.67% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Drayton, North Dakota
In Drayton, 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 Pembina 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 Drayton, 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 highest median tax bill in the area is $492 in the 58225 zip code, while the lowest median tax bill is also $492 in the same zip code. 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 Drayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Drayton Assessed Value
$31,589
Average Pembina County Assessed Value
$40,468
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drayton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58225 | $17,625 | $19,342 | $31,589 | $32,046 | $56,813 |
Source: Ownwell
Property Tax Bills Across Drayton, North Dakota
In Drayton, located in Pembina County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. Unlike market value, the assessed value is a percentage of the home's market value and is used to compute property taxes. Homeowners in Drayton experience a range of property tax bills, with the 25th percentile at $322 and the 75th percentile at $505. At the higher end, the 90th percentile tax bill reaches $841. The median home price in Drayton is $31,589, significantly lower than national averages, which reflects in the relatively modest tax bills. Factors such as property size, location, and improvements can influence the assessed value, directly impacting the tax bill. For homeowners, understanding these factors is crucial as they can affect annual expenses. Comparatively, Drayton's property tax rates are more manageable, providing a financial advantage for residents when contrasted with the national median property tax rate of 0.99%.
Average Drayton Tax Bill
$492
Average Pembina County Tax Bill
$568
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Drayton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58225 | $299 | $322 | $492 | $505 | $841 |
Source: Ownwell