Dwight, North Dakota Property Taxes
The median property tax rate in Dwight, ND is 1.53%, considerably higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Dwight at $217,400, the typical annual property tax bill reaches $3,326, exceeding the national median of $2,690. Property taxes in Dwight 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 Dwight'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 Dwight 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
Dwight, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$3,326
$3,087
Ownwell’s Dwight Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dwight with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dwight 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 Dwight, North Dakota
Property taxes in Dwight, North Dakota, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dwight is 1.53%, notably higher than the U.S. national median of 0.99%. Local government entities within Dwight set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dwight 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 Dwight's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58075 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Dwight provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dwight Tax Rate
1.53%
Average Richland County Tax Rate
1.58%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dwight, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58075 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Dwight, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dwight, North Dakota. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by location, property condition, and economic trends. This value is estimated by the Richland 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 Dwight, 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. For instance, in zip code 58075, the median tax bill is $3,326, which is the same for both the highest and lowest median tax bills in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dwight Assessed Value
$217,400
Average Richland County Assessed Value
$121,100
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dwight, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58075 | $217,400 | $217,400 | $217,400 | $217,400 | $217,400 |
Source: Ownwell
Property Tax Bills Across Dwight, North Dakota
Property tax bills in Dwight, located in Richland County, ND, are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is a percentage of the property's market value, and this percentage is set by state and local regulations. In Dwight, the median home price is $217,400, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value. Homeowners in Dwight face a median property tax bill of $3,326, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, potentially affecting their overall financial planning and housing affordability. Understanding these factors can help homeowners in Dwight better anticipate their property tax obligations and manage their finances accordingly.
Average Dwight Tax Bill
$3,326
Average Richland County Tax Bill
$1,800
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Dwight, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58075 | $3,326 | $3,326 | $3,326 | $3,326 | $3,326 |
Source: Ownwell