Belfield, North Dakota Property Taxes
The median property tax rate in Belfield, ND is 0.54%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Belfield at $193,400, the typical annual property tax bill amounts to $1,110, which is well below the national median of $2,690. Property taxes in Belfield are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Belfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Belfield or another part of Stark County, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Belfield, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,044
Ownwell's Belfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belfield 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 Belfield, North Dakota
Property taxes in Belfield, 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 Belfield is 1.01%, which is higher than both the North Dakota state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Belfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belfield 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 Belfield's effective property tax rate to other regions in North Dakota and the national median. For comparison, the highest median property tax rate in Belfield is 1.01%, while the lowest median tax rate is also 1.01%. Understanding how these cities compare with Belfield provides valuable insights into the varying tax landscape across Stark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belfield Tax Rate
0.54%
Average Stark County Tax Rate
0.55%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | 0.40% | 0.54% | 0.54% | 0.56% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Belfield, North Dakota
In Belfield, 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 Stark 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 Belfield, 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 Belfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 58622 has the highest and lowest median tax bill of $1,110, highlighting the importance of these valuations.
Average Belfield Assessed Value
$193,400
Average Stark County Assessed Value
$386,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | $70,760 | $124,100 | $193,400 | $303,200 | $421,540 |
Source: Ownwell
Property Tax Bills Across Belfield, North Dakota
In Belfield, property tax bills are calculated based on the assessed value of a home, which is determined by the Stark County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $193,400, homeowners in Belfield can expect varying tax bills. Those in the 25th percentile pay around $693, while those in the 75th percentile face bills of approximately $1,633. At the 90th percentile, the tax bill can reach up to $2,190. Factors influencing these amounts include property size, location, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $1,110, reflecting a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Belfield's rates provide a clear picture of how local tax policies impact homeowners financially.
Average Belfield Tax Bill
$1,110
Average Stark County Tax Bill
$2,116
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Belfield, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58622 | $398 | $693 | $1,110 | $1,633 | $2,190 |
Source: Ownwell