Milton, North Dakota Property Taxes
The median property tax rate in Milton, ND is 0.98%, slightly below the national median of 0.99% and significantly lower than the North Dakota state median of 1.30%. With the median home value in Milton, the typical annual property tax bill amounts to $699, well below the national median of $2,690. Property taxes in Milton are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Milton'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 Milton 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
Milton, North Dakota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,600
Ownwell’s Milton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton, North Dakota
Property taxes in Milton, 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 Milton is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58260 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Milton provides valuable insights into the varying tax landscape across Cavalier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milton Tax Rate
0.98%
Average Cavalier County Tax Rate
0.99%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58260 | 0.94% | 0.96% | 0.98% | 1.00% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Milton, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Milton, North Dakota. 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 Cavalier 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 Milton, 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 highest and lowest median tax bills in Milton are both $699.00, found in the zip code 58260. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Milton Assessed Value
$69,300
Average Cavalier County Assessed Value
$90,150
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58260 | $22,660 | $36,900 | $69,300 | $119,850 | $160,200 |
Source: Ownwell
Property Tax Bills Across Milton, North Dakota
In Milton, located in Cavalier County, ND, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $69,300, property tax bills can vary significantly. Homeowners in the 25th percentile might see a tax bill of around $344, while those in the 75th percentile could face a bill of approximately $1,207. At the 90th percentile, the tax bill can reach up to $1,583. These variations are influenced by factors such as property improvements, neighborhood changes, and local government budgets. Compared to the national median property tax rate of 0.99%, Milton's property taxes can be considered relatively moderate, offering homeowners a balanced fiscal environment. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Milton Tax Bill
$699
Average Cavalier County Tax Bill
$1,068
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58260 | $236 | $344 | $699 | $1,207 | $1,583 |
Source: Ownwell