Honeyford, North Dakota Property Taxes
The median property tax rate in Honeyford, ND is 0.90%, 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 $89,100 in Honeyford, the typical annual property tax bill is $802, significantly below the national median of $2,690. Property taxes in Honeyford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Honeyford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Honeyford or another part of Grand Forks County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Honeyford, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$802
Ownwell’s Honeyford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honeyford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honeyford 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 Honeyford, North Dakota
Property taxes in Honeyford, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honeyford is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Honeyford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honeyford 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 Honeyford's effective property tax rate to other regions in North Dakota and the national median. For comparison, the zip code 58235 has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Honeyford 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 Honeyford Tax Rate
0.90%
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 Honeyford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Honeyford, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Honeyford, North Dakota. 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 Honeyford, 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. Honeyford's median home price is $89,100, with the highest and lowest median tax bills both being $802 in the 58235 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Honeyford Assessed Value
$89,100
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 Honeyford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | $89,100 | $89,100 | $89,100 | $89,100 | $89,100 |
Source: Ownwell
Property Tax Bills Across Honeyford, North Dakota
In Honeyford, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Honeyford is $89,100. Property taxes are applied to this assessed value to determine the annual tax bill. The assessed value is typically a percentage of the market value of the property, and local authorities then apply the tax rate to this assessed value. For homeowners in Honeyford, the property tax bill at the 25th, 75th, and 90th percentiles is consistently $802. This figure is derived from the local tax rate and the assessed value of properties within the area. Compared to the national median property tax rate of 0.99%, Honeyford's tax rate results in a relatively modest tax bill, providing some financial relief to homeowners. This uniformity in tax bills suggests a stable and predictable property tax environment, which can be beneficial for budgeting and financial planning for residents.
Average Honeyford Tax Bill
$802
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 Honeyford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58235 | $802 | $802 | $802 | $802 | $802 |
Source: Ownwell