Fargo, North Dakota Property Taxes
The median property tax rate in Fargo, ND is 1.43%, significantly higher than both the national median of 0.99% and North Dakota's state median of 1.30%. With the median home value in Fargo at $226,500, the typical annual property tax bill reaches $3,403, surpassing the national median of $2,690. Property taxes in Fargo 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 Fargo'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 Fargo 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
Fargo, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,239
Ownwell’s Fargo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fargo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fargo 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 Fargo, North Dakota
Property taxes in Fargo, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fargo is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fargo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fargo 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 Fargo's effective property tax rate to other areas in Cass County and the national median. For comparison, the 58102 zip code has the highest median property tax rate of 1.44%, while the 58103 zip code has the lowest median tax rate of 1.41%. Understanding how these areas compare with Fargo provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fargo Tax Rate
1.43%
Average Cass County Tax Rate
1.42%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fargo, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58102 | 1.30% | 1.37% | 1.44% | 1.56% | 1.75% |
| 58103 | 1.35% | 1.37% | 1.41% | 1.49% | 1.61% |
| 58104 | 1.36% | 1.38% | 1.43% | 1.79% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Fargo, North Dakota
In Fargo, 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 Cass 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 Fargo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fargo is $4,528 in zip code 58104, while the lowest is $2,928 in zip code 58103.
Average Fargo Assessed Value
$226,500
Average Cass County Assessed Value
$223,400
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fargo, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58102 | $83,300 | $159,800 | $205,600 | $267,300 | $365,140 |
| 58103 | $107,010 | $161,800 | $202,400 | $256,300 | $328,100 |
| 58104 | $193,300 | $225,600 | $295,200 | $372,900 | $491,040 |
Source: Ownwell
Property Tax Bills Across Fargo, North Dakota
In Fargo, located in Cass County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Various factors, including the property's location, size, and condition, are considered during the assessment process. Homeowners in Fargo experience a range of property tax bills. For instance, the 25th percentile tax bill is around $2,601, while the 75th percentile reaches $4,597, and the 90th percentile can be as high as $6,299. The highest median tax bill in the area is $4,528, found in ZIP code 58104, whereas the lowest median tax bill is $2,928 in ZIP code 58103. Compared to the national median property tax rate of 0.99%, Fargo's property tax rates can significantly impact homeowners, affecting their overall housing costs and financial planning.
Average Fargo Tax Bill
$3,403
Average Cass County Tax Bill
$3,332
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Fargo, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58102 | $1,163 | $2,389 | $3,105 | $3,931 | $5,024 |
| 58103 | $1,344 | $2,278 | $2,928 | $3,792 | $4,808 |
| 58104 | $2,694 | $3,473 | $4,528 | $6,130 | $8,169 |
Source: Ownwell