Medora, Billings County, North Dakota Property Taxes
The median property tax rate in Medora, ND is 0.55%, considerably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Medora, the typical annual property tax bill reaches $281, significantly below the national median of $2,690. Property taxes in Medora 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 Medora'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 Medora 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
Medora, 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
$278
$258
Ownwell’s Medora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Medora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Medora 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 Medora, Billings County, North Dakota
Property taxes in Medora, North Dakota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Medora is 0.55%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Medora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Medora 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 Medora's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58645 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Medora 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 Medora 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 Medora, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58645 | 0.54% | 0.55% | 0.55% | 0.55% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Medora, Billings County, North Dakota
In Medora, 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 Medora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Medora is $50,600, with tax bills ranging from $198 at the 25th percentile to $1,252 at the 90th percentile.
Property Tax Assessment Values Across Medora, Billings County, North Dakota
Source: Ownwell
$43,350
$46,975
$50,600
Average Medora Assessed Value
$50,600
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 Medora, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58645 | $12,400 | $35,775 | $50,600 | $139,100 | $230,000 |
Source: Ownwell
Property Tax Bills Across Medora, Billings County, North Dakota
In Medora, located in Billings County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Medora is $50,600, and property taxes are derived by applying the local tax rate to this assessed value. For example, homeowners in the 25th percentile can expect a tax bill around $198, while those in the 75th percentile might see bills closer to $783. At the higher end, the 90th percentile tax bill can reach up to $1,252. Factors influencing the tax bill include the property's assessed value, which is determined by local assessors, and the specific tax rate set by local taxing authorities. This tax rate can vary depending on the needs of the community, such as funding for schools, infrastructure, and public services. Homeowners in Medora should be aware that these property taxes can significantly impact their annual expenses, making it essential to understand how these bills are calculated and what they contribute to within the community.
Average Medora Tax Bill
$281
Average Billings County Tax Bill
$281
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Medora, Billings County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58645 | $69 | $198 | $281 | $783 | $1,252 |
Source: Ownwell