Oakes, North Dakota Property Taxes
The median property tax rate in Oakes, ND is 1.00%, slightly above the national median of 0.99% but below the North Dakota state median of 1.30%. With the median home value in Oakes at $122,851, the typical annual property tax bill reaches $1,244, which is lower than the national median of $2,690. Property taxes in Oakes are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Oakes'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 Oakes 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
Oakes, 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 Oakes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakes 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 Oakes, North Dakota
Property taxes in Oakes, 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 Oakes is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Oakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakes 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 Oakes' effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58474 has the same median property tax rate of 1.00%. Understanding how these areas compare with Oakes provides valuable insights into the varying tax landscape across Dickey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakes Tax Rate
1.00%
Average Sargent County Tax Rate
1.49%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | 0.95% | 0.97% | 1.00% | 1.02% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Oakes, North Dakota
In Oakes, 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 Dickey 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 Oakes, 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 Oakes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Oakes are both $1244, found in the 58474 zip code.
Average Oakes Assessed Value
$122,851
Average Sargent County Assessed Value
$10,926
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | $90,964 | $102,922 | $122,851 | $142,780 | $154,738 |
Source: Ownwell
Property Tax Bills Across Oakes, North Dakota
In Oakes, located in Sargent County, ND, property tax bills are determined based on the assessed value of the property, which is a percentage of its market value. Local assessors evaluate properties to determine their market value, and then apply an assessment ratio to calculate the assessed value. This assessed value is then multiplied by the local tax rate to determine the property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For example, the median home price in Oakes is $122,851, and property tax bills can vary significantly. The 25th percentile tax bill is $1,013, while the 75th percentile reaches $1,474, and the 90th percentile can go up to $1,613. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Oakes homeowners experience a competitive rate, reflecting the region's cost of living and public service needs.
Average Oakes Tax Bill
$1,244
Average Sargent County Tax Bill
$185
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakes, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58474 | $875 | $1,013 | $1,244 | $1,474 | $1,613 |
Source: Ownwell