Hope, North Dakota Property Taxes
The median property tax rate in Hope, ND is 0.73%, notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Hope at $139,100, the typical annual property tax bill amounts to $1,040, which is below the national median of $2,690. Property taxes in Hope are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hope'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 Hope or another part of Cass County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hope, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,015
$942
Ownwell’s Hope Property Tax Bill Calculator allows any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Hope with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hope 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 Hope, North Dakota
Property taxes in Hope, 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 Hope is 0.73%, lower than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Hope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hope 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 Hope's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58046 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Hope 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 Hope Tax Rate
0.73%
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 Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | 0.73% | 0.73% | 0.73% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Hope, North Dakota
In Hope, 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. In Hope, 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 Hope helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in Hope, the median home price stands at $139,100, with tax bills ranging from $961 at the 25th percentile to $1,344 at the 90th percentile. The highest and lowest median tax bill in the area is $1,040, both found in the 58046 zip code.
Average Hope Assessed Value
$139,100
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 Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | $124,380 | $129,900 | $139,100 | $166,700 | $183,260 |
Source: Ownwell
Property Tax Bills Across Hope, North Dakota
In Hope, located in Cass County, ND, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Hope, the median home price stands at $139,100. Property tax rates in Hope are competitive, with the national median property tax rate at 0.99%. Homeowners in Hope can expect their tax bills to vary based on the value of their property. For instance, the 25th percentile tax bill is around $961, while the 75th percentile tax bill reaches $1,230. The 90th percentile tax bill is approximately $1,344. Interestingly, the highest and lowest median tax bills in the area are both recorded at $1,040, specifically in the 58046 zip code. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual financial responsibilities.
Average Hope Tax Bill
$1,040
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 Hope, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58046 | $913 | $961 | $1,040 | $1,230 | $1,344 |
Source: Ownwell