Almont, North Dakota Property Taxes
The median property tax rate in Almont, ND is 1.17%, 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 Almont, the typical annual property tax bill reaches $23, significantly below the national median of $2,690. Property taxes in Almont 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 Almont'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 Almont or another part of Morton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Almont, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$23
$22
Ownwell’s Almont Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Almont with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Almont to project your property tax bill. This insightful tool provides clarity on potential tax liabilities, aiding in better financial planning. For those interested in more granular details, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value, determined by Morton County, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Almont, North Dakota
Property taxes in Almont, 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 Almont is 1.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Almont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Almont 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 Almont's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58520 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Almont provides valuable insights into the varying tax landscape across Morton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Almont Tax Rate
1.17%
Average Morton County Tax Rate
1.39%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Almont, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58520 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Almont, North Dakota
In Almont, 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 Morton 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 Almont, 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 Almont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are all consistent, with a median home price of $2,000 and tax bills around $23.
Average Almont Assessed Value
$2,000
Average Morton County Assessed Value
$182,900
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Almont, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58520 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Source: Ownwell
Property Tax Bills Across Almont, North Dakota
In Almont, located in Morton County, ND, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate, also known as the mill rate, is applied. For instance, with a median home price of $2,000, homeowners in Almont face property tax bills that are relatively modest. The tax bill at the 25th, 75th, and 90th percentiles all stand at $23, indicating a consistent rate across different property values. This consistency provides homeowners with a predictable and manageable tax expense. Compared to the national median property tax rate of 0.99%, Almont's rates are significantly lower, making it an attractive location for homeowners looking for affordability. The lower tax burden can ease financial pressures on residents, allowing them to allocate resources to other essential expenses or investments. This favorable tax environment can positively impact the overall quality of life for Almont's homeowners.
Average Almont Tax Bill
$23
Average Morton County Tax Bill
$2,526
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Almont, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58520 | $23 | $23 | $23 | $23 | $23 |
Source: Ownwell