Gilby, North Dakota Property Taxes
The median property tax rate in Gilby, ND is 1.02%, 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 Gilby being $81,800, the typical annual property tax bill is $985, which is below the national median of $2,690. Property taxes in Gilby are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gilby'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 Gilby 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
Gilby, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$834
$774
Ownwell’s Gilby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilby 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 Gilby, North Dakota
Property taxes in Gilby, North Dakota, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Gilby is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Gilby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilby 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 Gilby's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58235 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Gilby 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 Gilby Tax Rate
1.02%
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 Gilby, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | 0.90% | 1.02% | 1.02% | 1.03% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Gilby, North Dakota
In Gilby, 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 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 Gilby, 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 Gilby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $985, found in the zip code 58235.
Average Gilby Assessed Value
$81,800
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 Gilby, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | $40,690 | $56,550 | $81,800 | $137,950 | $187,740 |
Source: Ownwell
Property Tax Bills Across Gilby, North Dakota
In Gilby, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of the home. This assessed value is determined by the local assessor's office and reflects a percentage of the property's market value. For example, with a median home price of $81,800, the tax bill can vary significantly. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Gilby can expect their property tax bills to range widely. At the 25th percentile, the tax bill is around $600, while at the 75th percentile, it can reach approximately $1,441. Those at the 90th percentile may see bills as high as $1,925. These figures highlight the variability in property taxes, influenced by the assessed value and local tax rates. Comparatively, the national median property tax rate is 0.99%, making Gilby's rates competitive within the broader context. Understanding these factors helps homeowners anticipate their tax obligations and budget accordingly.
Average Gilby Tax Bill
$985
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 Gilby, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | $391 | $600 | $985 | $1,441 | $1,925 |
Source: Ownwell