Mcleod, North Dakota Property Taxes
The median property tax rate in McLeod, North Dakota is 1.04%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With the median home value in McLeod at $180,800, the typical annual property tax bill reaches $1,872, which is below the national median of $2,690. Property taxes in McLeod are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding McLeod'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 McLeod 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
Mcleod, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,880
$1,745
Ownwell’s McLeod Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McLeod with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLeod to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at the neighborhood level, more localized information is available below. 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 Mcleod, North Dakota
Property taxes in McLeod, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLeod is 1.04%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within McLeod set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLeod 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 McLeod's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58057 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with McLeod 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 Mcleod Tax Rate
1.04%
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Mcleod, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in McLeod, North Dakota. 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 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 McLeod, 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. The zip code 58057 has the highest and lowest median tax bill, both at $1,872. Being aware of these valuation processes in McLeod helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mcleod Assessed Value
$180,800
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | $180,800 | $180,800 | $180,800 | $180,800 | $180,800 |
Source: Ownwell
Property Tax Bills Across Mcleod, North Dakota
In McLeod, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. The median home price in McLeod is $180,800, and the property tax rate is 1.04%, slightly above the national median of 0.99%. Homeowners in McLeod can expect a median property tax bill of $1,872, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. Several factors influence the property tax bill, including property size, location, and any applicable exemptions. This tax bill directly impacts homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Mcleod Tax Bill
$1,872
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 Mcleod, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58057 | $1,872 | $1,872 | $1,872 | $1,872 | $1,872 |
Source: Ownwell