Taylor, North Dakota Property Taxes
The median property tax rate in Taylor, ND is 0.59%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Taylor, the typical annual property tax bill reaches $1,627, which is well below the national median of $2,690. Property taxes in Taylor 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 Taylor'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 Taylor 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
Taylor, 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 Taylor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taylor 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 Taylor, North Dakota
Property taxes in Taylor, 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 Taylor is 1.03%, which is higher than the North Dakota state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Taylor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taylor 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 Taylor's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58656 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Taylor provides valuable insights into the varying tax landscape across Stark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taylor Tax Rate
0.59%
Average Stark County Tax Rate
0.55%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58656 | 0.54% | 0.55% | 0.59% | 0.59% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Taylor, North Dakota
In Taylor, 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 Stark 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 Taylor, 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 example, the median home price is $269,400, with annual tax bills ranging from $1,013 at the 25th percentile to $3,954 at the 90th percentile. 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 Taylor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Taylor Assessed Value
$269,400
Average Stark County Assessed Value
$386,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taylor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58656 | $104,400 | $160,300 | $269,400 | $419,400 | $612,600 |
Source: Ownwell
Property Tax Bills Across Taylor, North Dakota
In Taylor, located in Stark County, ND, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local assessors who evaluate the property’s market value, which, in Taylor, has a median home price of $269,400. Homeowners in Taylor experience a range of tax bills, with the 25th percentile paying around $1,013 annually, while those in the 75th percentile see bills closer to $2,821. The 90th percentile reaches up to $3,954. These tax bills are influenced by various factors, including property size, location, and any improvements made. The local tax rate is applied to the assessed value, resulting in the final tax bill. For homeowners, this means that property taxes can significantly impact their annual expenses, making it crucial to understand how these assessments are conducted. Compared to the national median property tax rate of 0.99%, Taylor's tax rates reflect the local economic conditions and property values, affecting how much homeowners ultimately pay.
Average Taylor Tax Bill
$1,627
Average Stark County Tax Bill
$2,116
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylor, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58656 | $618 | $1,013 | $1,627 | $2,821 | $3,954 |
Source: Ownwell