Luverne, North Dakota Property Taxes
The median property tax rate in Luverne, ND is 1.06%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With the median home value in Luverne at $57,400, the typical annual property tax bill is $606, which is significantly below the national median of $2,690. Property taxes in Luverne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Luverne'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 Luverne or another part of Barnes County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Luverne, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$608
$565
Ownwell’s Luverne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luverne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luverne 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 Luverne, North Dakota
Property taxes in Luverne, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luverne is 1.06%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Luverne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luverne 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 Luverne's effective property tax rate to other areas in North Dakota and the national median. For comparison, the 58056 zip code has the highest median property tax rate of 1.06%, while it also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Luverne 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 Luverne Tax Rate
1.06%
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 Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | 1.05% | 1.06% | 1.06% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Luverne, North Dakota
In Luverne, 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 Luverne, 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 Luverne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Luverne is $57,400, with tax bills ranging from $161 at the 25th percentile to $2,847 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 58056, with a median tax bill of $606.
Average Luverne Assessed Value
$57,400
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 Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | $10,740 | $14,000 | $57,400 | $143,600 | $273,200 |
Source: Ownwell
Property Tax Bills Across Luverne, North Dakota
In Luverne, located in Barnes County, ND, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessment process involves evaluating the property's market value, which is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $57,400, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $161, while at the 75th percentile, it rises to approximately $1,520. The tax bill can go as high as $2,847 at the 90th percentile. The highest and lowest median tax bills in the area are both $606, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Luverne's tax implications can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors helps homeowners budget accordingly and anticipate their annual financial obligations.
Average Luverne Tax Bill
$606
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 Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | $126 | $161 | $606 | $1,520 | $2,847 |
Source: Ownwell