Tower City, North Dakota Property Taxes
The median property tax rate in Tower City, ND is 0.82%, 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 $123,900 in Tower City, the typical annual property tax bill is $1,124, which is well below the national median of $2,690. Property taxes in Tower City are calculated based on the assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Tower City’s property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Tower City or another part of Cass County, a thorough grasp of the local property tax system will be beneficial.
Last Updated June 14, 2024
Tower City, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,016
$943
Ownwell’s Tower City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tower City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tower City 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 Tower City, North Dakota
Property taxes in Tower City, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tower City is 1.01%, higher than both the North Dakota state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Tower City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tower City 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 Tower City's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58071 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Tower City 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 Tower City Tax Rate
0.82%
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | 0.74% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Tower City, North Dakota
In Tower City, 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 Tower City, 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 Tower City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1124, occurring in the 58071 zip code.
Property Tax Assessment Values Across Tower City, North Dakota
Source: Ownwell
$79,400
$233,925
$388,450
Average Tower City Assessed Value
$123,900
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | $8,780 | $57,300 | $123,900 | $170,100 | $287,400 |
Source: Ownwell
Property Tax Bills Across Tower City, North Dakota
In Tower City, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the actual tax bill. For homeowners, several factors influence the final tax bill, including the market value of their property, any applicable exemptions, and the specific tax rate set by Cass County. For instance, the median home price in Tower City is $123,900, with tax bills ranging widely. The 25th percentile tax bill stands at $530, while the 75th percentile reaches $1,462. At the 90th percentile, homeowners might see bills as high as $2,298. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these factors is crucial for homeowners, as property taxes significantly impact annual expenses and long-term financial planning.
Average Tower City Tax Bill
$1,124
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 Tower City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58071 | $162 | $530 | $1,124 | $1,462 | $2,298 |
Source: Ownwell