Litchville, North Dakota Property Taxes
The median property tax rate in Litchville, ND is 1.42%, 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 Litchville at $44,900, the typical annual property tax bill reaches $611, which is significantly lower than the national median of $2,690. Property taxes in Litchville 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 Litchville'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 Litchville 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
Litchville, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$638
Ownwell’s Litchville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Litchville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Litchville 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 Litchville, North Dakota
Property taxes in Litchville, North Dakota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Litchville is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Litchville set these rates annually, and they can vary notably across different neighborhoods. Each year, Litchville 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 Litchville's effective property tax rate to other areas in North Dakota and the national median. For comparison, the 58461 zip code has both the highest and lowest median property tax rate of 1.42%. Understanding how these areas compare with Litchville 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 Litchville Tax Rate
1.42%
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 Litchville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58461 | 1.02% | 1.42% | 1.42% | 1.42% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Litchville, North Dakota
In Litchville, 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. In Litchville, 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 Litchville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $44,900, with the median tax bill ranging from $135 at the 25th percentile to $1,733 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 58461, at $611.
Average Litchville Assessed Value
$44,900
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 Litchville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58461 | $1,600 | $8,600 | $44,900 | $86,250 | $154,820 |
Source: Ownwell
Property Tax Bills Across Litchville, North Dakota
Property tax bills in Litchville, located in Barnes County, ND, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Litchville is $44,900. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value over time. For homeowners in Litchville, the tax bill can vary significantly. The 25th percentile tax bill is $135, while the 75th percentile tax bill is $1,133. At the 90th percentile, it reaches $1,733. These variations highlight the impact of property values and local tax rates on individual tax obligations. Compared to the national median property tax rate of 0.99%, Litchville's property tax rates can be considered relatively moderate. This system ensures that property taxes are proportionate to the value of one's home, impacting homeowners' financial planning and budgeting.
Average Litchville Tax Bill
$611
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 Litchville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58461 | $25 | $135 | $611 | $1,133 | $1,733 |
Source: Ownwell