Mercer, North Dakota Property Taxes
The median property tax rate in Mercer, ND is 0.89%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Mercer at $137,800, the typical annual property tax bill amounts to $1,227, significantly below the national median of $2,690. Property taxes in Mercer are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Mercer'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 Mercer or another part of McLean County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mercer, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,226
Ownwell’s Mercer Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mercer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mercer to project your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, 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 Mercer, North Dakota
Property taxes in Mercer, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mercer is 1.02%, higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Mercer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mercer 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 Mercer's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58559 zip code has the highest median property tax rate of 1.02%, while the 58559 zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Mercer provides valuable insights into the varying tax landscape across McLean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mercer Tax Rate
0.89%
Average Mclean County Tax Rate
1.12%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mercer, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58559 | 0.89% | 0.89% | 0.89% | 0.89% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Mercer, North Dakota
In Mercer, 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 McLean 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 Mercer, 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 Mercer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code with the highest and lowest median tax bill in Mercer is 58559, with a median tax bill of $1,227.
Average Mercer Assessed Value
$137,800
Average Mclean County Assessed Value
$136,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mercer, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58559 | $29,360 | $96,200 | $137,800 | $231,650 | $262,570 |
Source: Ownwell
Property Tax Bills Across Mercer, North Dakota
In Mercer, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate, which in Mercer is determined by county authorities, is then applied to this assessed value. For example, with a median home price of $137,800, homeowners can expect varying tax bills depending on their property's assessed value and the specific rate applied. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. For homeowners in Mercer, the 25th percentile tax bill is around $857, while those in the 75th percentile pay about $1999. The highest median tax bill in the area is $1227, which falls within the zip code 58559. Understanding these factors is crucial for homeowners, as property taxes can significantly affect annual expenses. Comparing these figures to the national median property tax rate of 0.99% provides context for Mercer's tax environment, helping homeowners plan accordingly.
Average Mercer Tax Bill
$1,227
Average Mclean County Tax Bill
$1,469
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Mercer, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58559 | $382 | $857 | $1,227 | $1,999 | $2,338 |
Source: Ownwell