Forbes, North Dakota Property Taxes
The median property tax rate in Forbes, ND is 1.29%, slightly below the state median of 1.30% but still higher than the national median of 0.99%. With a median home value of $19,000, the typical annual property tax bill in Forbes is $227, which is significantly lower than the national median of $2,690. Property taxes in Forbes are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Forbes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Forbes or another part of Dickey County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forbes, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$245
Ownwell’s FORBES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORBES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORBES 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 Forbes, North Dakota
Property taxes in Forbes, 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 Forbes is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Forbes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forbes 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 Forbes' effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58439 has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these areas compare with Forbes provides valuable insights into the varying tax landscape across Dickey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forbes Tax Rate
1.29%
Average Dickey County Tax Rate
1.30%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forbes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58439 | 1.01% | 1.29% | 1.29% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Forbes, North Dakota
In Forbes, 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 Dickey 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 Forbes, 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 Forbes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 58439 has both the highest and lowest median tax bill, valued at $227.
Average Forbes Assessed Value
$19,000
Average Dickey County Assessed Value
$49,700
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forbes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58439 | $1,630 | $2,950 | $19,000 | $46,150 | $73,450 |
Source: Ownwell
Property Tax Bills Across Forbes, North Dakota
In the city of Forbes in Dickey County, ND, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate various factors, including the property's market value, location, and condition. Homeowners in Forbes experience property tax bills that range significantly, with the 25th percentile tax bill at $38 and the 75th percentile reaching $596. The 90th percentile tax bill is notably higher at $948. Compared to the national median property tax rate of 0.99%, Forbes offers relatively lower property tax rates, making it an attractive location for homeowners. However, the impact on homeowners can vary widely based on the assessed value of their property and the specific tax rate applied. For instance, the highest median tax bill in the area is $227, which is quite manageable compared to many other regions. This variability underscores the importance of understanding how local assessments and tax rates influence overall tax obligations.
Average Forbes Tax Bill
$227
Average Dickey County Tax Bill
$656
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Forbes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58439 | $21 | $38 | $227 | $596 | $948 |
Source: Ownwell