New Rockford, North Dakota Property Taxes
The median property tax rate in New Rockford, ND is 1.04%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With the median home value in New Rockford, the typical annual property tax bill reaches $5,319, significantly exceeding the national median of $2,690. Property taxes in New Rockford are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Rockford'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 New Rockford 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
New Rockford, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$5,325
$4,941
Ownwell’s New Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Rockford 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 New Rockford, North Dakota
Property taxes in New Rockford, 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 New Rockford is 1.04%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Rockford 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 New Rockford's effective property tax rate to other areas in North Dakota and the national median. For comparison, the 58356 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with New Rockford provides valuable insights into the varying tax landscape across Foster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Rockford Tax Rate
1.04%
Average Foster County Tax Rate
1.04%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across New Rockford, North Dakota
In New Rockford, 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 Foster 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 New Rockford, 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 New Rockford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $5,319, found in zip code 58356.
Property Tax Assessment Values Across New Rockford, North Dakota
Source: Ownwell
$53,700
$282,850
$512,000
Average New Rockford Assessed Value
$512,000
Average Foster County Assessed Value
$131,550
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | $512,000 | $512,000 | $512,000 | $512,000 | $512,000 |
Source: Ownwell
Property Tax Bills Across New Rockford, North Dakota
In New Rockford, located in Foster County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The local tax rate, or millage rate, is then applied to the assessed value to calculate the annual property tax bill. For homeowners in New Rockford, the median home price is $512,000. The property tax bill at the 25th, 75th, and 90th percentiles is consistently $5,319, which is higher than the national median property tax rate of 0.99%. This uniformity in tax bills suggests a standard approach in the local tax assessment system. High property taxes can significantly impact homeowners by increasing the overall cost of owning a home. This can be a crucial factor for potential buyers and current residents when considering their long-term financial commitments. Understanding how these taxes are calculated can help homeowners better plan their finances and explore potential exemptions or appeals to reduce their tax burden.
Average New Rockford Tax Bill
$5,319
Average Foster County Tax Bill
$1,548
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | $5,319 | $5,319 | $5,319 | $5,319 | $5,319 |
Source: Ownwell