Elgin, North Dakota Property Taxes
The median property tax rate in Elgin, ND is 1.13%, which is 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 Elgin at $55,750, the typical annual property tax bill is $250, significantly below the national median of $2,690. Property taxes in Elgin are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding Elgin'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 Elgin or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elgin, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$630
$585
Ownwell’s Elgin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elgin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elgin 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 Elgin, North Dakota
Property taxes in Elgin, 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 Elgin is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elgin set these rates annually, and they can vary across different neighborhoods. Each year, Elgin 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 Elgin's effective property tax rate to other areas in Grant County and the national median. For comparison, the zip code 58533 has both the highest and lowest median property tax rate of 1.13%. Understanding how these areas compare with Elgin provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elgin Tax Rate
1.13%
Average Grant County Tax Rate
0.99%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elgin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58533 | 0.18% | 0.29% | 1.13% | 1.40% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Elgin, North Dakota
In Elgin, 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 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 Elgin, 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. The median home price in Elgin is $55,750, with tax bills ranging from $106 at the 25th percentile to $895 at the 90th percentile. Notably, the highest and lowest median tax bills are both reported in the 58533 zip code, each at $250. 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 Elgin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elgin Assessed Value
$55,750
Average Grant County Assessed Value
$49,750
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elgin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58533 | $18,680 | $26,200 | $55,750 | $66,075 | $81,340 |
Source: Ownwell
Property Tax Bills Across Elgin, North Dakota
In Elgin, located in Grant County, ND, property tax bills are determined by several key factors. The primary component is the assessed value of the property, which is a percentage of the market value. Local tax rates, set by various governmental entities such as the county, city, and school districts, are then applied to this assessed value. Homeowners in Elgin experience varying property tax bills. For example, the median home price is $55,750, with tax bills ranging from $106 at the 25th percentile to $895 at the 90th percentile. The median property tax rate in Grant County is notably lower than the national median of 0.99%. These property tax bills can significantly impact homeowners by influencing their overall housing costs. Lower tax bills may make homeownership more affordable, while higher bills can add a substantial annual expense. Understanding how these factors interplay helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Elgin Tax Bill
$250
Average Grant County Tax Bill
$445
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Elgin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58533 | $79 | $106 | $250 | $573 | $895 |
Source: Ownwell