Kenmare, North Dakota Property Taxes
The median property tax rate in Kenmare, ND is 0.84%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $72,212 in Kenmare, the typical annual property tax bill amounts to $678, significantly below the national median of $2,690. Property taxes in Kenmare are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kenmare's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kenmare or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenmare, 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 Kenmare Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenmare with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenmare 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 Kenmare, North Dakota
Property taxes in Kenmare, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenmare is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Kenmare set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenmare 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 Kenmare's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58746 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Kenmare provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenmare Tax Rate
0.84%
Average Renville County Tax Rate
1.30%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenmare, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58746 | 0.83% | 0.83% | 0.84% | 0.88% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Kenmare, North Dakota
In Kenmare, 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 Kenmare, 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 Kenmare helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $678, found in the zip code 58746.
Average Kenmare Assessed Value
$72,212
Average Renville County Assessed Value
$65,650
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenmare, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58746 | $9,310 | $10,836 | $72,212 | $105,408 | $110,106 |
Source: Ownwell
Property Tax Bills Across Kenmare, North Dakota
In Kenmare, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions play a significant role in determining the assessed value. For homeowners in Kenmare, the median home price is $72,212, and tax bills can vary significantly. The 25th percentile tax bill is $90, while the 75th percentile tax bill is $882, and the 90th percentile tax bill reaches $952. Comparatively, the national median property tax rate is 0.99%, which means Kenmare's tax rates could be considerably lower, offering some relief to homeowners. However, the impact of property taxes on homeowners can still be substantial, influencing overall affordability and financial planning. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Kenmare Tax Bill
$678
Average Renville County Tax Bill
$701
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenmare, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58746 | $77 | $90 | $678 | $882 | $952 |
Source: Ownwell