Pekin, North Dakota Property Taxes
The median property tax rate in Pekin, North Dakota is 1.01%, slightly above the national median of 0.99% but below the North Dakota state median of 1.30%. With the median home value in Pekin at $16,110, the typical annual property tax bill is $162, which is significantly lower than the national median of $2,690. Property taxes in Pekin are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Pekin'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 Pekin 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
Pekin, North Dakota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,600
Ownwell’s Pekin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pekin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pekin 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 Pekin, North Dakota
Property taxes in Pekin, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pekin is 1.01%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Pekin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pekin 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 Pekin's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58361 zip code has the highest median property tax rate of 1.01%, while the 58361 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Pekin provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pekin Tax Rate
1.01%
Average Nelson County Tax Rate
1.45%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pekin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58361 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Pekin, North Dakota
In Pekin, 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 Nelson 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 Pekin, 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 Pekin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $16,110, with the highest and lowest median tax bills both at $162 in the 58361 zip code.
Average Pekin Assessed Value
$16,110
Average Nelson County Assessed Value
$33,165
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pekin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58361 | $16,110 | $16,110 | $16,110 | $16,110 | $16,110 |
Source: Ownwell
Property Tax Bills Across Pekin, North Dakota
In Pekin, located in Nelson 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 Pekin is $16,110, which is significantly lower than the national median. The tax rate in this area is applied to the assessed value to determine the annual property tax bill. Homeowners in Pekin can expect their property tax bill to be around $162, as this is the figure for the 25th, 75th, and 90th percentiles. This uniformity in tax bills indicates a consistent application of tax rates across properties in the area. Factors considered in determining the tax bill include the assessed value of the property and any applicable exemptions or deductions. This relatively low tax bill can be a financial relief for homeowners, especially when compared to the national median property tax rate of 0.99%, which would result in much higher tax bills in areas with higher home values. Consequently, homeowners in Pekin benefit from lower property tax expenses, contributing to the overall affordability of living in this region.
Average Pekin Tax Bill
$162
Average Nelson County Tax Bill
$558
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Pekin, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58361 | $162 | $162 | $162 | $162 | $162 |
Source: Ownwell