New Salem, North Dakota Property Taxes
The median property tax rate in New Salem, ND is 0.68%, considerably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in New Salem at $127,511, the typical annual property tax bill reaches $876, significantly below the national median of $2,690. Property taxes in New Salem are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Salem'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 New Salem or another part of Oliver County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Salem, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$867
Ownwell’s New Salem Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Salem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Salem 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 New Salem, North Dakota
Property taxes in New Salem, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Salem is 0.68%, lower than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within New Salem set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Salem 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 New Salem's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58563 zip code has the highest median property tax rate of 0.68%, while the 58563 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with New Salem provides valuable insights into the varying tax landscape across Oliver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Salem Tax Rate
0.68%
Average Oliver County Tax Rate
0.70%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Salem, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58563 | 0.68% | 0.68% | 0.68% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across New Salem, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Salem, 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 Oliver 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 in New Salem 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 New Salem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area, both at $876, are found in the 58563 zip code.
Property Tax Assessment Values Across New Salem, North Dakota
Source: Ownwell
$103,927
$148,116
$192,305
Average New Salem Assessed Value
$127,511
Average Oliver County Assessed Value
$137,505
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Salem, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58563 | $49,255 | $61,513 | $127,511 | $169,808 | $236,562 |
Source: Ownwell
Property Tax Bills Across New Salem, North Dakota
In New Salem, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the home's market value. For example, with a median home price of $127,511, homeowners can expect their property taxes to be influenced by this valuation. Various factors such as property size, location, and condition also play a role in determining the final tax bill. Homeowners in New Salem typically see a range of property tax bills. At the 25th percentile, the tax bill is around $427, while at the 75th percentile, it climbs to $1,219. The 90th percentile tax bill can reach up to $1,676. These figures highlight the variability in tax burdens among homeowners, depending on their property's assessed value and other influencing factors. Comparatively, the median property tax rate in New Salem is competitive, given the national median property tax rate of 0.99%. This means that while some homeowners may face higher tax bills, the overall tax rate remains in line with national averages, providing a balanced fiscal environment for residents.
Average New Salem Tax Bill
$876
Average Oliver County Tax Bill
$1,042
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across New Salem, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58563 | $332 | $427 | $876 | $1,219 | $1,676 |
Source: Ownwell