Tower City, North Dakota Property Taxes
The median property tax rate in Tower City, ND is 1.09%, 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 Tower City at $146,800, the typical annual property tax bill reaches $1,607, which is below the national median of $2,690. Property taxes in Tower City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tower City'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 Tower City 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
Tower City, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,600
Ownwell’s Tower City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tower City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tower City 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 Tower City, North Dakota
Property taxes in Tower City, 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 Tower City is 1.09%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Tower City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tower City 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 Tower City's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58071 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Tower City 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 Tower City Tax Rate
1.09%
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | 1.05% | 1.07% | 1.09% | 1.13% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Tower City, North Dakota
In Tower City, 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 local 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 Tower City, 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. In Barnes County, the highest and lowest median tax bills are both $1607, found in the 58071 zip code. Being aware of these valuation processes in Tower City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tower City Assessed Value
$146,800
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | $57,780 | $95,900 | $146,800 | $187,200 | $318,680 |
Source: Ownwell
Property Tax Bills Across Tower City, North Dakota
In Tower City, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate, which varies within the county of Barnes. Homeowners in Tower City can expect a median property tax bill of approximately $1,607, aligning with the rate in the zip code 58071. Factors influencing the tax bill include the market value of the property, any applicable exemptions, and the specific tax rate set by local authorities. For instance, homes at the 25th percentile have tax bills around $988, while those at the 75th percentile see bills near $2,102. Homes at the 90th percentile could experience tax bills as high as $3,543. Compared to the national median property tax rate of 0.99%, Tower City’s rates reflect its unique local economic conditions. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners.
Average Tower City Tax Bill
$1,607
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | $395 | $988 | $1,607 | $2,102 | $3,543 |
Source: Ownwell