Wales, North Dakota Property Taxes
The median property tax rate in Wales, ND is 1.02%, slightly above the national median of 0.99% but below the North Dakota state median of 1.30%. With a median home value of $161,450 in Wales, the typical annual property tax bill amounts to $1,612, which is less than the national median of $2,690. Property taxes in Wales are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Wales' property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you reside in the heart of Wales or elsewhere in Cavalier County, a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Wales, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,647
Ownwell’s Wales Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wales with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Wales to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value, assigned by Cavalier County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Wales, North Dakota
Property taxes in Wales, 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 Wales is 1.02%, which is higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Wales set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wales 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 Wales' effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58281 has the highest median property tax rate of 1.02%, while the same zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Wales 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 Wales Tax Rate
1.02%
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 Wales, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58281 | 1.00% | 1.01% | 1.02% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Wales, North Dakota
In Wales, 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 Wales, 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. The median home price in Wales is $161,450, with tax bills ranging from $949 at the 25th percentile to $2,129 at the 90th percentile. The highest and lowest median tax bills are both $1,612, found in zip code 58281. 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 Wales helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wales Assessed Value
$161,450
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 Wales, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58281 | $55,190 | $93,575 | $161,450 | $208,200 | $208,560 |
Source: Ownwell
Property Tax Bills Across Wales, North Dakota
In Wales, ND, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence this calculation, including the market value of the property, local tax rates, and any applicable exemptions or abatements. For homeowners in Wales, the median home price is $161,450. Property tax bills vary significantly, with the 25th percentile bill at $949 and the 75th percentile bill at $2,085. The 90th percentile tax bill reaches up to $2,129, reflecting the range of property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, the rates in Wales can lead to varying financial impacts on homeowners. Those with homes in the lower percentile benefit from relatively lower tax bills, while those in higher percentiles may face more substantial annual payments. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Wales Tax Bill
$1,612
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 Wales, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58281 | $562 | $949 | $1,612 | $2,085 | $2,129 |
Source: Ownwell