Reynolds, North Dakota Property Taxes
The median property tax rate in Reynolds, ND is 1.21%, which is higher than both the national median of 0.99% and North Dakota's state median of 1.30%. With the median home value in Reynolds, the typical annual property tax bill reaches $1,582, which is below the national median of $2,690. Property taxes in Reynolds are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Reynolds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Reynolds 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
Reynolds, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,898
Ownwell’s Reynolds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reynolds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reynolds 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 Reynolds, North Dakota
Property taxes in Reynolds, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reynolds is 1.21%, significantly higher than the U.S. national median of 0.99%. Local government entities within Reynolds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reynolds 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 Reynolds' effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58275 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Reynolds 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 Reynolds Tax Rate
1.21%
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 Reynolds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58275 | 0.84% | 0.89% | 1.21% | 1.21% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Reynolds, North Dakota
In Reynolds, 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 Reynolds, 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 Reynolds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Reynolds is $156,900, with tax bills ranging from $933 at the 25th percentile to $3,388 at the 90th percentile. The highest and lowest median tax bills are both $1,582 in the 58275 zip code.
Average Reynolds Assessed Value
$156,900
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 Reynolds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58275 | $40,400 | $88,200 | $156,900 | $214,400 | $305,900 |
Source: Ownwell
Property Tax Bills Across Reynolds, North Dakota
In Reynolds, located in Grand Forks County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in Reynolds can expect their property tax bills to vary depending on several factors, including the assessed value of their property and the local tax rate. For instance, homeowners in Reynolds see a range of tax bills. The 25th percentile tax bill is $933, reflecting lower-end property values, while the 75th percentile tax bill reaches $2,555, indicating higher property values. At the 90th percentile, tax bills can be as high as $3,388. These variations highlight the impact of property value assessments on tax obligations. Comparatively, the median property tax rate nationally stands at 0.99%, which provides a benchmark for understanding local tax rates. For homeowners in Reynolds, understanding these factors is crucial as they directly influence annual financial obligations and overall affordability of homeownership in the area.
Average Reynolds Tax Bill
$1,582
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 Reynolds, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58275 | $478 | $933 | $1,582 | $2,555 | $3,388 |
Source: Ownwell