Elliott, North Dakota Property Taxes
The median property tax rate in Elliott, ND is 0.81%, which is notably lower than both the national median of 0.99% and North Dakota's state median of 1.30%. With the median home value in Elliott at $29,300, the typical annual property tax bill is $233, significantly below the national median of $2,690. Property taxes in Elliott are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Elliott's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Elliott 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
Elliott, 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 Elliott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elliott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elliott 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 Elliott, North Dakota
Property taxes in Elliott, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elliott is 1.05%, higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Elliott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elliott 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 Elliott's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58054 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Elliott provides valuable insights into the varying tax landscape across Ransom County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elliott Tax Rate
0.81%
Average Ransom County Tax Rate
1.65%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elliott, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | 0.68% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Elliott, North Dakota
In Elliott, 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 Elliott, 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 Elliott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $29,300, with the highest and lowest median tax bills both recorded at $233 in zip code 58054.
Average Elliott Assessed Value
$29,300
Average Ransom County Assessed Value
$96,500
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elliott, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | $16,940 | $21,900 | $29,300 | $44,300 | $55,920 |
Source: Ownwell
Property Tax Bills Across Elliott, North Dakota
In Elliott, located in Ransom County, ND, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. For homeowners, the median home price stands at $29,300. The property tax rate in this region is a significant factor in determining the final tax bill. For instance, tax bills range from the 25th percentile at $154 to the 75th percentile at $359, with the 90th percentile reaching up to $453. When compared to the national median property tax rate of 0.99%, Elliott’s rates reflect the unique economic conditions of the area. The highest and lowest median tax bills in the county are both recorded at $233 in the zip code 58054, indicating a relatively consistent tax burden across different properties. These tax bills impact homeowners by influencing their annual housing costs, and can be a critical factor in budgeting and financial planning for property owners in Elliott.
Average Elliott Tax Bill
$233
Average Ransom County Tax Bill
$1,335
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Elliott, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58054 | $66 | $154 | $233 | $359 | $453 |
Source: Ownwell