Tolna, North Dakota Property Taxes
The median property tax rate in Tolna, ND is 0.94%, which is slightly below both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Tolna at $96,450, the typical annual property tax bill amounts to $897, significantly lower than the national median of $2,690. Property taxes in Tolna are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tolna'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 Tolna or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tolna, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$907
$841
Ownwell’s Tolna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tolna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tolna 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 Tolna, North Dakota
Property taxes in Tolna, 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 Tolna is 1.09%, significantly higher than both the North Dakota state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Tolna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tolna 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 Tolna's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58380 zip code has the highest median property tax rate of 1.09%, while the same 58380 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Tolna provides valuable insights into the varying tax landscape across Eddy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tolna Tax Rate
0.94%
Average Eddy County Tax Rate
1.58%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | 0.93% | 0.93% | 0.94% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Tolna, North Dakota
In Tolna, 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 Eddy 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 Tolna, 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 Tolna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 58380, with a median tax bill of $897.
Average Tolna Assessed Value
$96,450
Average Eddy County Assessed Value
$36,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $48,090 | $66,225 | $96,450 | $126,675 | $144,810 |
Source: Ownwell
Property Tax Bills Across Tolna, North Dakota
In Tolna, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions or reductions influence the final assessed value. For homeowners in Tolna, the median home price is $96,450, and property tax bills can vary significantly. The tax bill at the 25th percentile is $620, while at the 75th percentile, it is $1,174. At the 90th percentile, homeowners might see a tax bill of up to $1,341. Comparatively, the national median property tax rate is 0.99%, which highlights how local rates and home values can impact the amount owed. Understanding these factors helps homeowners anticipate their property tax responsibilities and manage their finances more effectively.
Average Tolna Tax Bill
$897
Average Eddy County Tax Bill
$348
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $454 | $620 | $897 | $1,174 | $1,341 |
Source: Ownwell