Fordville, North Dakota Property Taxes
The median property tax rate in Fordville, ND is 0.87%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $175,600 in Fordville, the typical annual property tax bill amounts to $1,527, falling below the national median of $2,690. Property taxes in Fordville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fordville'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 Fordville 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
Fordville, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,528
$1,418
Ownwell’s Fordville Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fordville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fordville to project your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Fordville, North Dakota
Property taxes in Fordville, North Dakota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fordville is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Fordville set these rates annually, and they can vary across different neighborhoods. Each year, Fordville 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 Fordville's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58231 has the highest median property tax rate of 0.87%, while it also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Fordville provides valuable insights into the varying tax landscape across Grand Forks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fordville Tax Rate
0.87%
Average Grand Forks County Tax Rate
1.49%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fordville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58231 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Fordville, North Dakota
In Fordville, 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 Grand Forks County Assessor 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 Fordville, 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 Fordville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fordville is $175,600, with the highest and lowest median tax bills both recorded at $1,527 in the 58231 zip code.
Average Fordville Assessed Value
$175,600
Average Grand Forks County Assessed Value
$201,100
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fordville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58231 | $146,560 | $157,450 | $175,600 | $206,500 | $225,040 |
Source: Ownwell
Property Tax Bills Across Fordville, North Dakota
In Fordville, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. Homeowners in this region pay a median property tax rate, which is applied to the assessed value to determine the annual tax bill. For example, with a median home price of $175,600, homeowners can expect their tax bill to fall between $1,372 at the 25th percentile and $1,796 at the 75th percentile, with the 90th percentile reaching up to $1,957. This tax bill calculation considers various factors, including property improvements, market conditions, and any applicable exemptions or deductions. The impact on homeowners can be significant, as these taxes fund essential public services like schools, infrastructure, and emergency services. Comparing this to the national median property tax rate of 0.99%, Fordville's tax rates are relatively competitive, offering a balanced approach to funding community needs while maintaining affordability for residents.
Average Fordville Tax Bill
$1,527
Average Grand Forks County Tax Bill
$2,953
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Fordville, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58231 | $1,278 | $1,372 | $1,527 | $1,796 | $1,957 |
Source: Ownwell