Rocklake, North Dakota Property Taxes
The median property tax rate in Rocklake, ND is 1.54%, significantly higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Rocklake at $31,300, the typical annual property tax bill reaches $580, which is still below the national median of $2,690. Property taxes in Rocklake are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Rocklake'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 Rocklake or another part of Towner County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rocklake, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$482
-$5,052
Ownwell’s Rocklake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rocklake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocklake 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 Rocklake, North Dakota
Property taxes in Rocklake, 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 Rocklake is 1.54%, significantly higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Rocklake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rocklake 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 Rocklake's effective property tax rate to other counties in North Dakota and the national median. For comparison, the zip code 58365 has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these areas compare with Rocklake provides valuable insights into the varying tax landscape across Towner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rocklake Tax Rate
1.54%
Average Towner County Tax Rate
1.52%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rocklake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58365 | 1.02% | 1.08% | 1.54% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Rocklake, North Dakota
In Rocklake, 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 Towner 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 Rocklake, 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 Rocklake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rocklake is $580.00 in zip code 58365, which is also the lowest median tax bill.
Average Rocklake Assessed Value
$31,300
Average Towner County Assessed Value
$33,175
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rocklake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58365 | $8,200 | $17,855 | $31,300 | $89,040 | $129,100 |
Source: Ownwell
Property Tax Bills Across Rocklake, North Dakota
In Rocklake, located in Towner County, ND, property tax bills are determined by a combination of the property's assessed value and the local tax rate. The assessed value is a percentage of the property's market value, which in Rocklake has a median home price of $31,300. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Factors influencing the tax bill include the market value of the property, any applicable exemptions, and changes in the local tax rate. For example, the 25th percentile tax bill in Rocklake is $349, while the 75th percentile tax bill is $1,127, indicating a range based on different property values and tax rates within the area. The highest median tax bill recorded in the area is $580, which aligns with the overall property values in the region. These property tax bills significantly impact homeowners, as they represent an ongoing annual expense tied to the value of their property. Understanding these factors helps homeowners anticipate and manage their financial obligations more effectively.
Average Rocklake Tax Bill
$580
Average Towner County Tax Bill
$453
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocklake, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58365 | $241 | $349 | $580 | $1,127 | $1,525 |
Source: Ownwell