New Town, North Dakota Property Taxes
The median property tax rate in New Town, ND is 0.53%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in New Town at $106,390, the typical annual property tax bill amounts to $546, which is well below the national median of $2,690. Property taxes in New Town are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Town'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 New Town 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
New Town, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$564
$523
Ownwell’s New Town Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Town with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Town 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 New Town, North Dakota
Property taxes in New Town, 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 New Town is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within New Town set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Town 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 New Town's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58763 has both the highest and lowest median property tax rate of 0.53%. Understanding how these cities compare with New Town provides valuable insights into the varying tax landscape across McKenzie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Town Tax Rate
0.53%
Average Mckenzie County Tax Rate
0.83%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Town, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58763 | 0.51% | 0.52% | 0.53% | 0.54% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across New Town, North Dakota
In NEW TOWN, 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 McKenzie 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 NEW TOWN, 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 NEW TOWN helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $546.00 in zip code 58763, which is also the lowest median tax bill, reflecting a consistent tax environment in this region.
Average New Town Assessed Value
$106,390
Average Mckenzie County Assessed Value
$163,270
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Town, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58763 | $30,765 | $74,212 | $106,390 | $115,365 | $117,048 |
Source: Ownwell
Property Tax Bills Across New Town, North Dakota
In New Town, McKenzie County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in New Town is $106,390. The property tax rate is then applied to this assessed value to generate the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill of approximately $390, while those in the 75th percentile might see a bill around $587. The highest median tax bill in the area is $546, and interestingly, the lowest median tax bill is also $546, indicating a consistency in tax assessments within the zip code 58763. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Compared to the national median property tax rate of 0.99%, New Town's property tax rates are relatively modest, providing some financial relief for homeowners. Understanding how these elements interact helps homeowners anticipate their annual tax liabilities and manage their finances more effectively.
Average New Town Tax Bill
$546
Average Mckenzie County Tax Bill
$1,120
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across New Town, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58763 | $162 | $390 | $546 | $587 | $607 |
Source: Ownwell