Heimdal, North Dakota Property Taxes
The median property tax rate in Heimdal, ND is 0.40%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $41,080 in Heimdal, the typical annual property tax bill is $156, which is far below the national median of $2,690. Property taxes in Heimdal are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Heimdal'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 Heimdal 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
Heimdal, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$164
Ownwell’s Heimdal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heimdal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heimdal 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 Heimdal, North Dakota
Property taxes in Heimdal, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heimdal is 1.18%, significantly higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Heimdal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heimdal 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 Heimdal's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58102 zip code has the highest median property tax rate of 1.25%, while the 58104 zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Heimdal provides valuable insights into the varying tax landscape across Wells County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heimdal Tax Rate
0.40%
Average Wells County Tax Rate
0.66%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heimdal, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58341 | 0.34% | 0.38% | 0.40% | 0.41% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Heimdal, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Heimdal, North Dakota. The market value represents 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 Wells 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 Heimdal, 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. For instance, the highest median tax bill in Wells County is $156 in the 58341 zip code, whereas the lowest is also $156 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Heimdal Assessed Value
$41,080
Average Wells County Assessed Value
$119,440
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heimdal, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58341 | $6,200 | $12,750 | $41,080 | $93,415 | $131,710 |
Source: Ownwell
Property Tax Bills Across Heimdal, North Dakota
Property tax bills in Heimdal, located in Wells County, ND, are calculated based on the assessed value of a property, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Heimdal is $41,080, and property taxes can vary significantly within the city. For instance, homeowners at the 25th percentile pay around $43 annually, while those at the 75th percentile face a tax bill of approximately $312. At the 90th percentile, the tax bill rises to about $547. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Heimdal's property tax bills are relatively low, reflecting the lower property values in the area. This affordability can be a significant benefit for homeowners, providing them with essential services at a lower cost.
Average Heimdal Tax Bill
$156
Average Wells County Tax Bill
$862
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Heimdal, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58341 | $19 | $43 | $156 | $312 | $547 |
Source: Ownwell