Riverdale, North Dakota Property Taxes
The median property tax rate in Riverdale, ND is 1.06%, slightly 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 Riverdale at $122,100, the typical annual property tax bill amounts to $1,293, which is below the national median of $2,690. Property taxes in Riverdale are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Riverdale'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 Riverdale or another part of McLean County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Riverdale, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,294
$1,201
Ownwell’s Riverdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverdale 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 Riverdale, North Dakota
Property taxes in Riverdale, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverdale is 1.06%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Riverdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverdale 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 Riverdale's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58565 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Riverdale 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 Riverdale Tax Rate
1.06%
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 Riverdale, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58565 | 1.06% | 1.06% | 1.06% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Riverdale, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Riverdale, North Dakota. 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 Riverdale, 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. The median home price in Riverdale is $122,100, with tax bills ranging from $920 at the 25th percentile to $2,471 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 58565, with a median tax bill of $1,293. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Riverdale Assessed Value
$122,100
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 Riverdale, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58565 | $62,510 | $88,475 | $122,100 | $168,925 | $231,890 |
Source: Ownwell
Property Tax Bills Across Riverdale, North Dakota
In Riverdale, located in McLean County, ND, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Riverdale is $122,100. Homeowners in this area experience property tax bills that vary significantly, with the 25th percentile tax bill at $920 and the 75th percentile reaching $1,795. For those in the 90th percentile, the tax bill can be as high as $2,471. The assessed value of a property is determined by the local tax assessor, who considers factors such as the market value of the home, its condition, and any improvements made. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Compared to the national median property tax rate of 0.99%, Riverdale's property taxes can be considered moderate. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community and homeowners' quality of life.
Average Riverdale Tax Bill
$1,293
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 Riverdale, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58565 | $636 | $920 | $1,293 | $1,795 | $2,471 |
Source: Ownwell