Luverne, North Dakota Property Taxes
The median property tax rate in Luverne, ND is 0.88%, considerably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Luverne at $69,578, the typical annual property tax bill reaches $598, significantly below the national median of $2,690. Property taxes in Luverne are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Luverne'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 Luverne 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
Luverne, North Dakota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,600
Ownwell’s Luverne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luverne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luverne 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 Luverne, North Dakota
Property taxes in Luverne, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luverne is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Luverne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luverne 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 Luverne's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58056 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Luverne provides valuable insights into the varying tax landscape across Griggs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luverne Tax Rate
0.88%
Average Griggs County Tax Rate
0.91%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | 0.83% | 0.85% | 0.88% | 0.95% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Luverne, North Dakota
In Luverne, 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 Griggs 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 Luverne, 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 Luverne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Luverne, the median home price is $69,578. The lowest median tax bill is $598 in the 58056 zip code, which is also the highest. The 25th percentile tax bill is $366, while the 75th percentile tax bill is $1,278, and the 90th percentile tax bill is $1,382.
Average Luverne Assessed Value
$69,578
Average Griggs County Assessed Value
$68,520
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | $29,211 | $41,971 | $69,578 | $132,918 | $149,857 |
Source: Ownwell
Property Tax Bills Across Luverne, North Dakota
In Luverne, Griggs County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $69,578, homeowners can expect a tax bill ranging from $366 at the 25th percentile to $1,278 at the 75th percentile, with the 90th percentile reaching up to $1,382. These calculations take into account various factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, the tax rates in Luverne can significantly impact homeowners, especially those with higher-valued properties. A higher assessed value leads to a higher tax bill, which can affect the affordability of homeownership. Understanding these factors is crucial for homeowners in budgeting and financial planning, ensuring they are prepared for their annual property tax obligations.
Average Luverne Tax Bill
$598
Average Griggs County Tax Bill
$614
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Luverne, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58056 | $252 | $366 | $598 | $1,278 | $1,382 |
Source: Ownwell