Hatton, North Dakota Property Taxes
The median property tax rate in Hatton, ND is 1.34%, 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 Hatton being $140,165, the typical annual property tax bill reaches $2,006, which is below the national median of $2,690. Property taxes in Hatton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hatton'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 Hatton or another part of Steele County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hatton, 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 Hatton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatton 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 Hatton, North Dakota
Property taxes in Hatton, North Dakota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatton is 1.34%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hatton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatton 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 Hatton's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58240 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Hatton provides valuable insights into the varying tax landscape across Steele County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hatton Tax Rate
1.34%
Average Steele County Tax Rate
1.11%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | 1.27% | 1.30% | 1.34% | 1.39% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Hatton, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hatton, 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 Steele 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 Hatton, 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. The median home price in Hatton is $140,165, with tax bills ranging from $1,075 at the 25th percentile to $3,497 at the 90th percentile. 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 Hatton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hatton Assessed Value
$140,165
Average Steele County Assessed Value
$95,786
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | $37,173 | $75,795 | $140,165 | $204,535 | $243,157 |
Source: Ownwell
Property Tax Bills Across Hatton, North Dakota
In Hatton, Steele County, ND, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Once the market value is established, it is adjusted to reflect the assessed value, which is then multiplied by the local tax rate to determine the tax bill. For homeowners in Hatton, the median home price is around $140,165, with tax bills varying significantly. The 25th percentile tax bill is $1,075, while the 75th percentile reaches $2,938, and the 90th percentile peaks at $3,497. These figures highlight the range of tax obligations that homeowners might face, depending on their property's assessed value. Notably, the highest and lowest median tax bills in Steele County are both $2,006, reflecting a relatively uniform tax landscape within the region. Compared to the national median property tax rate of 0.99%, Hatton's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Hatton Tax Bill
$2,006
Average Steele County Tax Bill
$1,249
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatton, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58240 | $516 | $1,075 | $2,006 | $2,938 | $3,497 |
Source: Ownwell