Inkster, North Dakota Property Taxes
The median property tax rate in Inkster, North Dakota is 0.95%, slightly below the national median of 0.99% and significantly lower than the North Dakota state median of 1.30%. With the median home value in Inkster at $38,300, the typical annual property tax bill amounts to $415, which is well below the national median of $2,690. Property taxes in Inkster are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Inkster'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 Inkster 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
Inkster, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$364
Ownwell’s Inkster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Inkster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Inkster 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 Inkster, North Dakota
Property taxes in Inkster, 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 Inkster is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Inkster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Inkster 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 Inkster's effective property tax rate to other areas in Grand Forks County and the national median. For comparison, the 58233 zip code has the highest median property tax rate of 0.99%, while the 58244 zip code has the lowest median tax rate of 0.88%. Understanding how these areas compare with Inkster 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 Inkster Tax Rate
0.95%
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 Inkster, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | 0.95% | 0.95% | 0.99% | 1.04% | 1.05% |
| 58244 | 0.87% | 0.87% | 0.88% | 0.98% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Inkster, North Dakota
In Inkster, 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 Inkster, 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. For instance, the highest median tax bill in the area is $1,089 in zip code 58233, while the lowest is $273 in zip code 58244. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Inkster Assessed Value
$38,300
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 Inkster, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $45,340 | $61,525 | $109,900 | $200,125 | $268,570 |
| 58244 | $4,300 | $14,000 | $31,300 | $47,500 | $109,320 |
Source: Ownwell
Property Tax Bills Across Inkster, North Dakota
Property tax bills in Inkster, located in Grand Forks County, ND, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For instance, with a median home price of $38,300, homeowners can expect varying tax bills depending on their property's assessed value. The tax bill at the 25th percentile is $139, while at the 75th percentile, it rises to $978, and at the 90th percentile, it reaches $2,107. These figures indicate that the tax burden can vary significantly, impacting homeowners differently based on their property's valuation. Compared to the national median property tax rate of 0.99%, the tax bills in Inkster reflect the local economic conditions and property values. The highest median tax bill in the area is $1,089 in the 58233 zip code, while the lowest is $273 in the 58244 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Inkster Tax Bill
$415
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 Inkster, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58233 | $431 | $582 | $1,089 | $2,091 | $2,761 |
| 58244 | $38 | $122 | $273 | $488 | $1,530 |
Source: Ownwell