Fairfield, North Dakota Property Taxes
The median property tax rate in Fairfield, ND is 0.55%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $28,000 in Fairfield, the typical annual property tax bill amounts to $155, which is well below the national median of $2,690. Property taxes in Fairfield are determined based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Fairfield's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Fairfield or another part of the city, grasping the nuances of the local property tax system can be highly beneficial.
Last Updated June 14, 2024
Fairfield, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$154
$143
Ownwell’s Fairfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield 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 Fairfield, North Dakota
Property taxes in Fairfield, 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 Fairfield is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other areas in North Dakota and the national median. For comparison, the 58627 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these rates compare with Fairfield 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 Fairfield 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 Fairfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58627 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, North Dakota
In Fairfield, 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. 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 Fairfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fairfield are both $155.00, found in the 58627 zip code.
Average Fairfield Assessed Value
$28,000
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 Fairfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58627 | $10,480 | $15,200 | $28,000 | $62,700 | $83,960 |
Source: Ownwell
Property Tax Bills Across Fairfield, North Dakota
In Fairfield, property tax bills are calculated by assessing the market value of a home and applying the local tax rate. The median home price in Fairfield is $28,000, and the tax rate is influenced by county-specific factors. Homeowners in Fairfield can expect their tax bills to vary significantly, with the 25th percentile paying around $84 and the 75th percentile paying up to $348. For those at the 90th percentile, tax bills can reach $466. Several factors impact the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Fairfield's tax rates offer a relatively affordable option for homeowners. However, the variability in tax bills means that some homeowners might face higher costs depending on their property's assessed value and other contributing factors. Understanding these elements helps homeowners better anticipate their annual property tax obligations.
Average Fairfield Tax Bill
$155
Average Billings County Tax Bill
$281
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58627 | $58 | $84 | $155 | $348 | $466 |
Source: Ownwell