Tolley, North Dakota Property Taxes
The median property tax rate in Tolley, ND is 0.77%, 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 $28,032 in Tolley, the typical annual property tax bill is $217, significantly less than the national median of $2,690. Property taxes in Tolley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tolley'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 Tolley or another part of Renville County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tolley, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$216
Ownwell’s Tolley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tolley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tolley 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 Tolley, North Dakota
Property taxes in Tolley, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tolley is 0.77%, lower than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Tolley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tolley 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 Tolley's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58787 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Tolley provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tolley Tax Rate
0.77%
Average Renville County Tax Rate
1.30%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tolley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58787 | 0.77% | 0.77% | 0.77% | 0.82% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Tolley, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tolley, 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 Renville 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 Tolley, 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 Tolley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Tolley, the highest and lowest median tax bills are both $217, found in the zip code 58787.
Average Tolley Assessed Value
$28,032
Average Renville County Assessed Value
$65,650
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tolley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58787 | $9,178 | $22,980 | $28,032 | $105,929 | $140,020 |
Source: Ownwell
Property Tax Bills Across Tolley, North Dakota
In Tolley, located in Renville County, ND, property tax bills are calculated based on the assessed value of the property. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to it. Homeowners in Tolley experience a range of property tax bills. For example, the tax bill at the 25th percentile is $178, while at the 75th percentile, it is $859. The highest median tax bill in the area is $217, and this value remains consistent across different zip codes. These figures indicate that property taxes can vary significantly, impacting homeowners differently depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Tolley's property tax rates may offer some relief to homeowners, but the exact impact varies based on individual property assessments. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Tolley Tax Bill
$217
Average Renville County Tax Bill
$701
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Tolley, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58787 | $71 | $178 | $217 | $859 | $1,170 |
Source: Ownwell