Golden Valley, North Dakota Property Taxes
The median property tax rate in Golden Valley, ND is 0.54%, 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 Golden Valley, the typical annual property tax bill is $505, well below the national median of $2,690. Property taxes in Golden Valley 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 Golden Valley'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 Golden Valley 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
Golden Valley, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$882
Ownwell’s Golden Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Golden Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Golden Valley 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 Golden Valley, North Dakota
Property taxes in Golden Valley, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Golden Valley is 1.17%, higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Golden Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Golden Valley 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 Golden Valley's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58541 zip code has the highest median property tax rate of 1.17%, while the 58541 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Golden Valley provides valuable insights into the varying tax landscape across Golden Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Golden Valley Tax Rate
0.54%
Average Mercer County Tax Rate
0.56%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Golden Valley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58541 | 0.20% | 0.43% | 0.54% | 0.68% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Golden Valley, North Dakota
In Golden Valley, 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 Mercer 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. 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 zip code with the highest median tax bill is 58541, with a median tax bill of $505, which is significantly lower than the national median property tax rate of 0.99%. Being aware of these valuation processes in Golden Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Golden Valley, North Dakota
Source: Ownwell
$124,822
$480,476
$836,129
Average Golden Valley Assessed Value
$163,275
Average Mercer County Assessed Value
$185,507
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Golden Valley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58541 | $21,920 | $34,600 | $163,275 | $210,908 | $327,795 |
Source: Ownwell
Property Tax Bills Across Golden Valley, North Dakota
In Golden Valley, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $163,275. The tax rate in Golden Valley is influenced by local government budgets and funding requirements for public services such as schools, infrastructure, and emergency services. Homeowners in Golden Valley see a range of tax bills, with the 25th percentile at $208 and the 75th percentile at $779. The 90th percentile reaches up to $1,002, indicating that higher-valued properties or those with additional improvements will face higher tax bills. Compared to the national median property tax rate of 0.99%, Golden Valley’s property tax bills are relatively modest. This system ensures that property taxes contribute fairly to the community’s needs while reflecting the value of individual properties. For homeowners, understanding these factors can help in financial planning and anticipating annual property tax obligations.
Average Golden Valley Tax Bill
$505
Average Mercer County Tax Bill
$938
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Golden Valley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58541 | $146 | $208 | $505 | $779 | $1,002 |
Source: Ownwell