Brocket, North Dakota Property Taxes
The median property tax rate in Brocket, ND is 0.93%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Brocket, the typical annual property tax bill reaches $124, significantly less than the national median of $2,690. Property taxes in Brocket are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brocket'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 Brocket or another part of Ramsey County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brocket, 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 Brocket Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brocket with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brocket 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 Brocket, North Dakota
Property taxes in Brocket, North Dakota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brocket is 1.00%, slightly higher than the North Dakota state median of 0.95% and the U.S. national median of 0.99%. Local government entities within Brocket set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brocket 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 Brocket's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58321 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Brocket provides valuable insights into the varying tax landscape across Ramsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brocket Tax Rate
0.93%
Average Ramsey County Tax Rate
1.26%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brocket, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58321 | 0.93% | 0.93% | 0.93% | 0.95% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Brocket, North Dakota
In Brocket, 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 local 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 Brocket, 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 Brocket helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ramsey County are both $124.00, specifically in the zip code 58321.
Average Brocket Assessed Value
$13,900
Average Ramsey County Assessed Value
$147,600
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brocket, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58321 | $2,500 | $8,200 | $13,900 | $55,600 | $114,000 |
Source: Ownwell
Property Tax Bills Across Brocket, North Dakota
In Brocket, ND, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Brocket is $13,900. Local tax authorities use this assessed value to determine the tax bill, which is influenced by the tax rate set by the county and any applicable exemptions. For example, in Ramsey County, homeowners might see a tax bill at the 25th percentile around $75, while those at the 75th percentile could pay approximately $544. At the higher end, the 90th percentile tax bill reaches up to $1,183. These figures show a range of possible property tax burdens, reflecting the varying assessed values and tax rates within the region. Compared to the national median property tax rate of 0.99%, homeowners in Brocket may experience relatively lower or higher tax bills depending on their property's assessed value and the specific tax rate applied. This variability can significantly impact homeowners' annual expenses and financial planning.
Average Brocket Tax Bill
$124
Average Ramsey County Tax Bill
$1,862
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Brocket, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58321 | $22 | $75 | $124 | $544 | $1,183 |
Source: Ownwell