Belfield, Billings County, North Dakota Property Taxes
The median property tax rate in Belfield, ND is 0.55%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Belfield, the typical annual property tax bill is $240, far below the national median of $2,690. Property taxes in Belfield 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 Belfield'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 Belfield 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
Belfield, Billings County, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$238
$221
Ownwell’s Belfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Belfield to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, additional localized information is available. Your property’s assessed value is the value determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Belfield, Billings County, North Dakota
Property taxes in Belfield, North Dakota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Belfield is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Belfield set these rates annually, and they can vary across different neighborhoods. Each year, Belfield 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 Belfield's effective property tax rate to other areas and the national median. For comparison, Belfield itself has the highest median property tax rate of 0.55%, while also having the lowest median tax rate of 0.55%. Understanding how these figures compare with other regions provides valuable insights into the varying tax landscape across Billings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belfield Tax Rate
0.55%
Average Billings County Tax Rate
0.55%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belfield, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | 0.54% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Belfield, Billings County, North Dakota
In Belfield, 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 Billings 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 Belfield, 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 Belfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $240 in the 58622 zip code.
Property Tax Assessment Values Across Belfield, Billings County, North Dakota
Source: Ownwell
$43,350
$46,975
$50,600
Average Belfield Assessed Value
$43,350
Average Billings County Assessed Value
$50,600
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belfield, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | $8,100 | $16,075 | $43,350 | $75,750 | $180,250 |
Source: Ownwell
Property Tax Bills Across Belfield, Billings County, North Dakota
In Belfield, located in Billings County, ND, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Belfield is $43,350. To determine the tax bill, the local tax rate is applied to the assessed value. Various factors such as property size, location, and improvements can influence the assessed value, leading to variations in tax bills among homeowners. For instance, the 25th percentile tax bill in Belfield is $89, while the 75th percentile tax bill is $420, and the 90th percentile tax bill reaches $982. These figures illustrate the range of property tax amounts that residents might expect. Compared to the national median property tax rate of 0.99%, Belfield's property taxes can be relatively modest, providing some relief to homeowners. However, individual tax bills can still have a significant impact on household budgets, depending on the specific assessed value of their property.
Average Belfield Tax Bill
$240
Average Billings County Tax Bill
$281
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Belfield, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | $45 | $89 | $240 | $420 | $982 |
Source: Ownwell