Fort Ransom, North Dakota Property Taxes
The median property tax rate in Fort Ransom, ND is 0.79%, which is notably lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $83,500 in Fort Ransom, the typical annual property tax bill amounts to $706, significantly below the national median of $2,690. Property taxes in Fort Ransom 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 Fort Ransom'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 Fort Ransom 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
Fort Ransom, 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 Fort Ransom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Ransom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Ransom 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 Fort Ransom, North Dakota
Property taxes in Fort Ransom, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Ransom is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Fort Ransom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Ransom 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. Understanding how these cities compare with Fort Ransom 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 Fort Ransom Tax Rate
0.79%
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 Fort Ransom, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58033 | 0.79% | 0.79% | 0.79% | 0.82% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Fort Ransom, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fort Ransom, ND. 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 Ransom 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 Fort Ransom, 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 Fort Ransom 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 are both $706.00, found in the 58033 zip code, highlighting the uniformity in property tax assessments within the region.
Property Tax Assessment Values Across Fort Ransom, North Dakota
Source: Ownwell
$29,300
$89,950
$150,600
Average Fort Ransom Assessed Value
$83,500
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 Fort Ransom, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58033 | $19,240 | $52,700 | $83,500 | $195,200 | $285,760 |
Source: Ownwell
Property Tax Bills Across Fort Ransom, North Dakota
In Fort Ransom, property tax bills are calculated based on the assessed value of a homeowner's property. The median home price in this area is $83,500, and property taxes are determined by applying the local tax rate to this assessed value. The tax bill can vary significantly depending on the property's assessed value and specific tax rate applied by Ransom County. Homeowners in Fort Ransom can expect their property tax bills to range widely. At the 25th percentile, the tax bill is approximately $420, while at the 75th percentile, it jumps to $1,603. For those at the 90th percentile, the tax bill can reach as high as $2,341. This variation is influenced by factors such as property location, improvements, and market conditions. Compared to the national median property tax rate of 0.99%, Fort Ransom's tax rates can be relatively moderate or high, affecting homeowners' annual financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Fort Ransom Tax Bill
$706
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 Fort Ransom, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58033 | $162 | $420 | $706 | $1,603 | $2,341 |
Source: Ownwell