Nekoma, North Dakota Property Taxes
The median property tax rate in Nekoma, ND is 0.91%, which is notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $91,800 in Nekoma, the typical annual property tax bill comes to $888, significantly below the national median of $2,690. Property taxes in Nekoma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Nekoma's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Nekoma or another part of Cavalier County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nekoma, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$835
$775
Ownwell’s Nekoma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nekoma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nekoma 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 Nekoma, North Dakota
Property taxes in Nekoma, 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 Nekoma is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Nekoma set these rates annually, and they can vary across different neighborhoods. Each year, Nekoma 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 Nekoma's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58355 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Nekoma 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 Nekoma Tax Rate
0.91%
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 Nekoma, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58355 | 0.91% | 0.91% | 0.91% | 0.94% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Nekoma, North Dakota
In Nekoma, 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 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 Nekoma, 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 Nekoma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Nekoma are both $888, found in zip code 58355.
Average Nekoma Assessed Value
$91,800
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 Nekoma, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58355 | $58,440 | $70,950 | $91,800 | $141,900 | $171,960 |
Source: Ownwell
Property Tax Bills Across Nekoma, North Dakota
In Nekoma, located in Cavalier County, ND, property tax bills are calculated based on the assessed value of a home. The process begins with determining the market value of the property, which is then assessed at a certain percentage to establish the taxable value. This assessed value is multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For homeowners in Nekoma, the median home price is $91,800. Tax bills can vary significantly, with the 25th percentile at $672 and the 75th percentile at $1,322, while the 90th percentile reaches up to $1,582. Comparatively, the national median property tax rate is 0.99%, making Nekoma's tax rates relatively moderate. Understanding these calculations helps homeowners anticipate their financial responsibilities and plan accordingly. Homeowners can benefit from knowing their property's assessed value and any potential exemptions to manage their tax bills effectively.
Average Nekoma Tax Bill
$888
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 Nekoma, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58355 | $543 | $672 | $888 | $1,322 | $1,582 |
Source: Ownwell