Fortuna, North Dakota Property Taxes
The median property tax rate in Fortuna, North Dakota, is 0.98%, slightly lower than the national median of 0.99% and notably below the North Dakota state median of 1.30%. With the median home value in Fortuna, the typical annual property tax bill is $340, significantly less than the national median of $2,690. Property taxes in Fortuna are based on the tax assessed value, which usually falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Fortuna'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 Fortuna or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fortuna, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$341
Ownwell’s Fortuna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fortuna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fortuna 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 Divide County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fortuna, North Dakota
Property taxes in Fortuna, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fortuna is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Fortuna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fortuna 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 Fortuna's effective property tax rate to other areas in Divide County and the national median. For comparison, the 58844 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Fortuna provides valuable insights into the varying tax landscape across Divide County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fortuna Tax Rate
0.98%
Average Divide County Tax Rate
1.04%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fortuna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58844 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Fortuna, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fortuna, 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 Divide 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 Fortuna, 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 Fortuna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 58844, with a value of $340, while the lowest median tax bill is also in zip code 58844, reflecting the same value.
Average Fortuna Assessed Value
$34,800
Average Divide County Assessed Value
$81,050
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fortuna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58844 | $34,800 | $34,800 | $34,800 | $34,800 | $34,800 |
Source: Ownwell
Property Tax Bills Across Fortuna, North Dakota
In Fortuna, Divide County, ND, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property's market value and then apply an assessment ratio to arrive at the taxable value. In this region, the median home price is $34,800, and the property tax rate is a significant factor in determining the final tax bill. The property tax rate in Fortuna is designed to fund local services such as schools, infrastructure, and emergency services. Homeowners in this area can expect a median property tax bill of $340, which is consistent across various percentiles, reflecting a stable tax environment. This amount is considerably lower than the national median property tax rate of 0.99%, making it relatively affordable for homeowners. The consistent tax bill helps homeowners in Fortuna plan their finances more effectively, ensuring that they can support community services without facing unpredictable tax fluctuations.
Average Fortuna Tax Bill
$340
Average Divide County Tax Bill
$884
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Fortuna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58844 | $340 | $340 | $340 | $340 | $340 |
Source: Ownwell