Lignite, North Dakota Property Taxes
The median property tax rate in Lignite, ND is 0.90%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $48,100 in Lignite, the typical annual property tax bill amounts to $434, significantly below the national median of $2,690. Property taxes in Lignite 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 Lignite's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lignite or another part of Burke County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lignite, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$433
$402
Ownwell’s Lignite Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lignite with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lignite 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 Lignite, North Dakota
Property taxes in Lignite, 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 Lignite is 1.05%, significantly higher than both the North Dakota state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Lignite set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lignite 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 Lignite's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58752 zip code has the highest median property tax rate of 1.05%, while the same zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Lignite provides valuable insights into the varying tax landscape across Burke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lignite Tax Rate
0.90%
Average Burke County Tax Rate
0.87%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lignite, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58752 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Lignite, North Dakota
In Lignite, 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 Burke 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 Lignite, 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. For example, the median home price in Lignite is $48,100, with tax bills ranging from $374 at the 25th percentile to $2,289 at the 90th percentile. Interestingly, the zip code 58752 has both the highest and lowest median tax bill at $434. 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 Lignite helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lignite Assessed Value
$48,100
Average Burke County Assessed Value
$39,200
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lignite, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58752 | $37,380 | $41,400 | $48,100 | $176,450 | $253,460 |
Source: Ownwell
Property Tax Bills Across Lignite, North Dakota
In Lignite, Burke County, ND, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is a percentage of the market value, determined by the county assessor. This value is then multiplied by the local tax rate to determine your annual tax bill. For instance, with a median home price of $48,100, the tax bills vary widely. At the 25th percentile, homeowners might pay around $374 annually, while at the 75th percentile, the bill could rise to $1,593. For those at the 90th percentile, the tax bill can be as high as $2,289. The highest median tax bill in the region is $434, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors influence their tax bill can help in budgeting and financial planning.
Average Lignite Tax Bill
$434
Average Burke County Tax Bill
$381
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Lignite, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58752 | $338 | $374 | $434 | $1,593 | $2,289 |
Source: Ownwell