Oakes, North Dakota Property Taxes
The median property tax rate in Oakes, ND is 1.32%, slightly above both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Oakes at $65,100, the typical annual property tax bill is $783, which is substantially lower than the national median of $2,690. Property taxes in Oakes 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 Oakes'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 Oakes 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
Oakes, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$859
$797
Ownwell’s Oakes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakes 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 Oakes, North Dakota
Property taxes in Oakes, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakes is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Oakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakes 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 Oakes' effective property tax rate to other areas and the national median. For comparison, the 58474 zip code has the highest median property tax rate of 1.32%, while the lowest median tax rate is also 1.32% in the same zip code. Understanding how these rates compare with Oakes 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 Oakes Tax Rate
1.32%
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 Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | 0.91% | 1.00% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Oakes, North Dakota
In Oakes, 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 Oakes, 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 Oakes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oakes is $65,100, with the 25th percentile tax bill at $348 and the 90th percentile at $1,542. The highest and lowest median tax bill in Oakes is $783 in zip code 58474.
Average Oakes Assessed Value
$65,100
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 Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | $11,690 | $28,875 | $65,100 | $107,350 | $132,720 |
Source: Ownwell
Property Tax Bills Across Oakes, North Dakota
In Oakes, located in Dickey County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Oakes is $65,100, and the property tax rate is applied to this value to determine the tax bill. Factors such as property improvements, market conditions, and neighborhood characteristics can influence the assessed value. Homeowners in Oakes can expect their property tax bills to vary widely, with the 25th percentile tax bill at $348 and the 75th percentile reaching $1,198. For those at the 90th percentile, the tax bill can go up to $1,542. The median tax bill in the area stands at $783, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership in Oakes more affordable compared to other regions, providing financial relief and potentially increasing the attractiveness of the area for new residents.
Average Oakes Tax Bill
$783
Average Dickey County Tax Bill
$656
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | $116 | $348 | $783 | $1,198 | $1,542 |
Source: Ownwell