Milnor, North Dakota Property Taxes
The median property tax rate in Milnor, ND is 1.54%, 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 Milnor at $12,768, the typical annual property tax bill reaches $170, which is significantly lower than the national median of $2,690. Property taxes in Milnor 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 Milnor'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 Milnor 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
Milnor, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$197
Ownwell’s Milnor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milnor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milnor 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 Milnor, North Dakota
Property taxes in Milnor, North Dakota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milnor is 1.54%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Milnor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milnor 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 Milnor's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58060 zip code has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Milnor provides valuable insights into the varying tax landscape across Sargent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milnor Tax Rate
1.54%
Average Sargent County Tax Rate
1.49%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milnor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58060 | 1.04% | 1.54% | 1.54% | 1.71% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Milnor, North Dakota
In Milnor, 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 Milnor, 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 Milnor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 58060 has the highest and lowest median tax bill, both at $170.
Average Milnor Assessed Value
$12,768
Average Sargent County Assessed Value
$10,926
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milnor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58060 | $7,929 | $10,214 | $12,768 | $20,160 | $48,340 |
Source: Ownwell
Property Tax Bills Across Milnor, North Dakota
In Milnor, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. The median home price in Milnor is $12,768, significantly lower than the national median property tax rate of 0.99%. The property tax bill can vary widely, with the 25th percentile bill at $140 and the 75th percentile reaching $367. For those at the 90th percentile, the tax bill can be as high as $1,349. These tax bills are determined by local government assessments and are influenced by factors such as property size, location, and improvements. Homeowners in Milnor benefit from relatively low property tax bills, which can make homeownership more affordable compared to areas with higher tax rates. The highest and lowest median tax bills in the region are both $170, indicating a narrow range in tax burdens for most residents. This stability in property tax rates can provide a predictable financial environment for homeowners.
Average Milnor Tax Bill
$170
Average Sargent County Tax Bill
$185
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Milnor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58060 | $116 | $140 | $170 | $367 | $1,349 |
Source: Ownwell