Hatton, North Dakota Property Taxes
The median property tax rate in Hatton, ND is 1.13%, 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 Hatton at $72,100, the typical annual property tax bill reaches $801, which is below the national median of $2,690. Property taxes in Hatton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hatton'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 Hatton 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
Hatton, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$815
$756
Ownwell’s Hatton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatton 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 Hatton, North Dakota
Property taxes in Hatton, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatton is 1.13%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Hatton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatton 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 Hatton's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58240 zip code has the highest median property tax rate of 1.13%, while the 58240 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Hatton 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 Hatton Tax Rate
1.13%
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 Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | 1.10% | 1.11% | 1.13% | 1.14% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Hatton, North Dakota
In Hatton, 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 local 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 Hatton, 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. The zip code with the highest and lowest median tax bill in Grand Forks County is 58240, with a median tax bill of $801. Being aware of these valuation processes in Hatton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hatton Assessed Value
$72,100
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 Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | $48,540 | $57,000 | $72,100 | $181,600 | $236,080 |
Source: Ownwell
Property Tax Bills Across Hatton, North Dakota
In Hatton, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value, determined by local assessors. For instance, the median home price in Hatton stands at $72,100. Property tax rates in this area can vary, but they are generally influenced by county budgets and local funding needs. Homeowners in Hatton can expect their tax bills to range significantly. For example, the 25th percentile tax bill is around $651, while those in the 75th percentile see bills closer to $2,046. The 90th percentile tax bill can reach up to $2,753. These variations reflect differences in property values and specific tax rates applied. Compared to the national median property tax rate of 0.99%, Hatton’s property tax landscape offers a range of potential financial impacts on homeowners, influencing household budgets and long-term financial planning.
Average Hatton Tax Bill
$801
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 Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | $543 | $651 | $801 | $2,046 | $2,753 |
Source: Ownwell