Tolna, North Dakota Property Taxes
The median property tax rate in Tolna, ND is 1.13%, slightly higher than the national median of 0.99% but lower than North Dakota's state median of 1.30%. With the median home value in Tolna at $21,818, the typical annual property tax bill is $247, significantly below the national median of $2,690. Property taxes in Tolna are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Tolna'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 Tolna 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
Tolna, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$247
-$2,584
Ownwell’s Tolna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tolna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tolna 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 Tolna, North Dakota
Property taxes in Tolna, North Dakota, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Tolna is 1.13%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Tolna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tolna 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 Tolna's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58380 has both the highest and lowest median property tax rate of 1.13%. Understanding how these rates compare with Tolna 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 Tolna Tax Rate
1.13%
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 Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Tolna, North Dakota
In Tolna, 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 local 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 Tolna, 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 Tolna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tolna is $21,818, and the median tax bill is notably consistent across the board, with the highest and lowest median tax bills both being $247 in zip code 58380.
Average Tolna Assessed Value
$21,818
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 Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $21,818 | $21,818 | $21,818 | $21,818 | $21,818 |
Source: Ownwell
Property Tax Bills Across Tolna, North Dakota
In Tolna, North Dakota, property tax bills are calculated by assessing the property's value and applying the local tax rate. The assessed value of a home in Tolna is determined by the county assessor, who evaluates factors such as the property's size, location, and condition. Homeowners in this area face a median property tax bill of $247, which is significantly lower than the national median property tax rate of 0.99%. This lower tax bill can be attributed to the region's relatively modest median home price of $21,818. The property tax bill in Tolna is consistent across various percentiles, with the 25th, 75th, and 90th percentiles all reporting the same amount of $247. This uniformity suggests a stable and predictable tax environment for homeowners. While the tax burden in Tolna is relatively low, it still plays a crucial role in funding local services such as schools, infrastructure, and emergency services, thereby impacting the quality of life for residents.
Average Tolna Tax Bill
$247
Average Nelson County Tax Bill
$558
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Tolna, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58380 | $247 | $247 | $247 | $247 | $247 |
Source: Ownwell