Hope, North Dakota Property Taxes
The median property tax rate in Hope, ND is 1.07%, 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 $141,100 in Hope, the typical annual property tax bill is $907, which is below the national median of $2,690. Property taxes in Hope are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hope'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 Hope 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
Hope, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,510
Ownwell’s HOPE Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in HOPE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOPE to estimate your property tax bill, offering a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hope, North Dakota
Property taxes in Hope, North Dakota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hope is 1.07%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Hope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hope 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 Hope's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58046 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Hope provides valuable insights into the varying tax landscape across Barnes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hope Tax Rate
1.07%
Average Barnes County Tax Rate
1.12%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | 0.82% | 1.00% | 1.07% | 1.10% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Hope, North Dakota
In Hope, 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 Barnes 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. Assessment notices in Hope 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 Hope helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hope are both $907.00, found in the 58046 zip code.
Average Hope Assessed Value
$141,100
Average Barnes County Assessed Value
$86,700
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | $24,320 | $83,200 | $141,100 | $159,300 | $185,540 |
Source: Ownwell
Property Tax Bills Across Hope, North Dakota
Property tax bills in Hope, located in Barnes County, ND, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For homeowners in Hope, the median home price is $141,100. To determine the tax bill, the assessed value is multiplied by the local tax rate. In Hope, property tax bills can vary significantly. For example, the 25th percentile tax bill is $363, while the 75th percentile tax bill is $1,756. At the 90th percentile, homeowners might see tax bills as high as $2,001. These taxes fund essential local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Hope's property taxes can be relatively moderate, depending on the specific assessed value and tax rate applied. This variability can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Hope Tax Bill
$907
Average Barnes County Tax Bill
$1,027
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | $202 | $363 | $907 | $1,756 | $2,001 |
Source: Ownwell