Watford City, North Dakota Property Taxes
The median property tax rate in Watford City, ND is 0.83%, notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Watford City at $167,945, the typical annual property tax bill amounts to $1,177, which is well below the national median of $2,690. Property taxes in Watford City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Watford City'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 Watford City or another part of McKenzie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Watford City, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,394
$1,294
Ownwell’s Watford City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watford City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watford City 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 Watford City, North Dakota
Property taxes in Watford City, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watford City is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Watford City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watford City 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 Watford City's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58854 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Watford City 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 Watford City Tax Rate
0.83%
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 Watford City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58854 | 0.49% | 0.54% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Watford City, North Dakota
In Watford City, 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 Watford City, 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 Watford City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Watford City is $167,945, with the 25th percentile tax bill at $985 and the 75th percentile tax bill at $1,728. The highest and lowest median tax bill is $1,177 in zip code 58854.
Property Tax Assessment Values Across Watford City, North Dakota
Source: Ownwell
$82,060
$144,653
$207,245
Average Watford City Assessed Value
$167,945
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 Watford City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58854 | $75,959 | $129,742 | $167,945 | $235,715 | $315,169 |
Source: Ownwell
Property Tax Bills Across Watford City, North Dakota
In Watford City, located in 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 this area is $167,945, and property tax rates are applied to this assessed value to determine the tax bill. For example, the median property tax bill in Watford City is $1,177, which is slightly higher than the national median tax rate of 0.99%. Several factors influence the property tax bill, including property size, location, and improvements. Homeowners may find their tax bills falling within a range; the 25th percentile tax bill is around $985, while the 75th percentile reaches $1,728, and the 90th percentile can be as high as $2,173. These variations reflect differences in property values and specific local tax rates. Understanding these factors can help homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Watford City Tax Bill
$1,177
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 Watford City, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58854 | $538 | $985 | $1,177 | $1,728 | $2,173 |
Source: Ownwell