Penn, North Dakota Property Taxes

The median property tax rate in Penn, ND is 1.04%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With a median home value of $141,700 in Penn, the typical annual property tax bill is $1,122, which is below the national median of $2,690. Property taxes in Penn are based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Penn's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you reside in the heart of Penn or its surrounding areas, grasping the nuances of the local property tax system is beneficial for both homeowners and real estate investors.

Last Updated June 14, 2024

Penn, North Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.04%

Estimate Property Tax Bill

$1,474

Ownwell’s PENN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PENN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PENN 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 Ramsey County for property tax calculations, accounting for any exemptions that may apply.

Property Tax Rates Across Penn, North Dakota

Property taxes in PENN, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in PENN is 1.04%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within PENN set these rates annually, and they can vary significantly across different neighborhoods. Each year, PENN 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 PENN's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58362 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with PENN 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.

Property Tax Rates Across Penn, North Dakota

Source: Ownwell

0.82%

1.16%

1.49%

Average Penn Tax Rate

1.04%

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 Penn, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
58362	0.45%	1.04%	1.04%	1.04%	1.05%

Source: Ownwell

Property Tax Assessment Values Across Penn, North Dakota

In PENN, 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 Ramsey 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 PENN, 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. The zip code with the highest median tax bill is 58362, with a bill of $1,122, while the lowest is also in the same zip code. Being aware of these valuation processes in PENN helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Penn, North Dakota

Source: Ownwell

$10,300

$87,800

$165,300

Average Penn Assessed Value

$141,700

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 Penn, North Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
58362	$36,700	$60,500	$141,700	$247,000	$291,580

Source: Ownwell

Property Tax Bills Across Penn, North Dakota

In PENN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Ramsey County is $141,700. Property taxes are then applied to this assessed value using the local tax rate. For homeowners in PENN, the tax bill can vary significantly. The 25th percentile tax bill stands at $437, while those in the 75th percentile pay around $2,029. At the higher end, the 90th percentile tax bill reaches $2,828. These figures illustrate the broad range of property tax bills within the area, influenced by factors such as property size, location, and any applicable exemptions. Homeowners in the highest median tax bill zip code, 58362, face an average bill of $1,122. Compared to the national median property tax rate of 0.99%, the tax burden in PENN can be quite variable, affecting homeowners' financial planning and overall cost of living.

Property Tax Bills Across Penn, North Dakota

Source: Ownwell

$124

$1,105

$2,085

Average Penn Tax Bill

$1,122

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 Penn, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
58362	$131	$437	$1,122	$2,029	$2,828

Source: Ownwell