Kathryn, North Dakota Property Taxes
The median property tax rate in Kathryn, ND is 0.87%, 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 Kathryn at $150,400, the typical annual property tax bill amounts to $989, significantly below the national median of $2,690. Property taxes in Kathryn are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kathryn'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 Kathryn 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
Kathryn, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,308
Ownwell’s Kathryn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kathryn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kathryn 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 Kathryn, North Dakota
Property taxes in Kathryn, North Dakota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kathryn is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Kathryn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kathryn 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 Kathryn's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58049 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Kathryn 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 Kathryn Tax Rate
0.87%
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 Kathryn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58049 | 0.76% | 0.84% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Kathryn, North Dakota
In Kathryn, 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 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 Kathryn, 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 Kathryn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kathryn is $150,400, with tax bills ranging from $478 at the 25th percentile to $2,119 at the 90th percentile. The zip code 58049 has the highest median tax bill of $989.
Average Kathryn Assessed Value
$150,400
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 Kathryn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58049 | $40,810 | $72,100 | $150,400 | $186,650 | $244,520 |
Source: Ownwell
Property Tax Bills Across Kathryn, North Dakota
In Kathryn, located in Ransom County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Kathryn is $150,400. Homeowners in the 25th percentile can expect a tax bill of around $478, while those in the 75th percentile might see a bill of approximately $1,618. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. The local tax rate is a crucial element and can vary within the county. For instance, the highest and lowest median tax bills in the area are both $989, which falls within the zip code 58049. Homeowners in Kathryn benefit from relatively lower property taxes compared to the national median property tax rate of 0.99%, providing some financial relief and making homeownership more affordable in this region.
Average Kathryn Tax Bill
$989
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 Kathryn, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58049 | $365 | $478 | $989 | $1,618 | $2,119 |
Source: Ownwell