Park River, North Dakota Property Taxes
The median property tax rate in Park River, ND is 1.73%, 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 Park River, the typical annual property tax bill reaches $2,775, slightly above the national median of $2,690. Property taxes in Park River are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Park River'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 Park River 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
Park River, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$2,768
Ownwell’s PARK RIVER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PARK RIVER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PARK RIVER 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 Park River, North Dakota
Property taxes in Park River, ND, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Park River stands at 1.73%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Park River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Park River 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 Park River's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58270 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Park River provides valuable insights into the varying tax landscape across Walsh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Park River Tax Rate
1.73%
Average Walsh County Tax Rate
1.87%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Park River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58270 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Park River, North Dakota
In Park River, 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 Walsh 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. Assessment notices in Park River 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 Park River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,775, found in the 58270 zip code.
Property Tax Assessment Values Across Park River, North Dakota
Source: Ownwell
$43,000
$101,500
$160,000
Average Park River Assessed Value
$160,000
Average Walsh County Assessed Value
$50,800
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Park River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58270 | $160,000 | $160,000 | $160,000 | $160,000 | $160,000 |
Source: Ownwell
Property Tax Bills Across Park River, North Dakota
In Park River, Walsh County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $160,000. Property taxes are calculated by applying the local tax rate to the assessed value of the property. For example, with the national median property tax rate at 0.99%, homeowners in Park River experience a comparable tax rate. Factors affecting the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. In Walsh County, the median tax bill stands at $2,775, which is consistent across different percentiles, indicating a uniform tax rate application. This consistency helps homeowners predict their annual tax obligations more accurately. The property tax bill impacts homeowners by contributing to local services like schools, infrastructure, and emergency services. Understanding these factors can help residents manage their finances and plan for future expenses effectively.
Average Park River Tax Bill
$2,775
Average Walsh County Tax Bill
$926
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Park River, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58270 | $2,775 | $2,775 | $2,775 | $2,775 | $2,775 |
Source: Ownwell