Horace, North Dakota Property Taxes
The median property tax rate in Horace, ND is 1.39%, considerably higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Horace at $318,500, the typical annual property tax bill reaches $5,037, exceeding the national median of $2,690. Property taxes in Horace 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 Horace'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 Horace 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
Horace, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$4,427
Ownwell’s Horace Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Horace. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Horace to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more detailed insights, we offer localized information on neighborhood trends further down the page. Your property’s assessed value, determined by Cass County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Horace, North Dakota
Property taxes in Horace, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horace is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Horace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horace 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 Horace's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58047 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these cities compare with Horace 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 Horace Tax Rate
1.39%
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 Horace, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58047 | 1.17% | 1.32% | 1.39% | 1.51% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Horace, North Dakota
In Horace, 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 Horace, 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 Horace helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 58047 has both the highest and lowest median tax bill, recorded at $5,037.
Average Horace Assessed Value
$318,500
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 Horace, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58047 | $34,360 | $203,400 | $318,500 | $488,500 | $688,960 |
Source: Ownwell
Property Tax Bills Across Horace, North Dakota
In Horace, located in Cass County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Factors such as the property’s market value, location, and any improvements made to the property are taken into consideration. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $318,500 in Horace, homeowners can expect varying tax bills. The 25th percentile tax bill is around $3,272, while the 75th percentile can reach up to $7,196, and the 90th percentile peaks at $9,749. The highest and lowest median tax bills in the area both stand at $5,037, indicating a relatively consistent tax environment within the ZIP code 58047. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for residents to understand how their tax bills are determined and managed.
Average Horace Tax Bill
$5,037
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 Horace, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58047 | $1,319 | $3,272 | $5,037 | $7,196 | $9,749 |
Source: Ownwell