Minto, North Dakota Property Taxes
The median property tax rate in Minto, ND is 1.01%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With a median home value of $163,000 in Minto, the typical annual property tax bill amounts to $1,650, which is below the national median of $2,690. Property taxes in Minto are determined based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Minto'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 Minto 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
Minto, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,646
$1,528
Ownwell’s Minto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minto with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minto 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 Minto, North Dakota
Property taxes in Minto, 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 Minto is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Minto set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minto 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 Minto's effective property tax rate to other areas in Grand Forks County and the national median. For comparison, the 58261 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these areas compare with Minto 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 Minto Tax Rate
1.01%
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 Minto, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58261 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Minto, North Dakota
In Minto, 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 Minto, 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 Minto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 58261 has both the highest and lowest median tax bill at $1,650.
Average Minto Assessed Value
$163,000
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 Minto, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58261 | $163,000 | $163,000 | $163,000 | $163,000 | $163,000 |
Source: Ownwell
Property Tax Bills Across Minto, North Dakota
In Minto, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $163,000, the tax bill is influenced by this valuation. The city’s property tax rate is then applied to the assessed value to determine the annual tax bill. Factors considered in this calculation include the property's market value, local tax rates, and any applicable exemptions or deductions. In Minto, the median property tax bill stands at $1,650, which is notably higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, which is essential to consider when budgeting for homeownership. The consistent tax bill across various percentiles indicates a stable and predictable tax environment for residents.
Average Minto Tax Bill
$1,650
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 Minto, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58261 | $1,650 | $1,650 | $1,650 | $1,650 | $1,650 |
Source: Ownwell