Bowbells, North Dakota Property Taxes
The median property tax rate in Bowbells, ND is 0.64%, significantly lower than both the national median of 0.99% and North Dakota's state median of 1.30%. With a median home value of $293,000 in Bowbells, the typical annual property tax bill amounts to $1,912, which is well below the national median of $2,690. Property taxes in Bowbells are calculated based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. By gaining a deeper understanding of Bowbells' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Bowbells or investing in the area, mastering the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Bowbells, 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 Bowbells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowbells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowbells 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 Bowbells, North Dakota
Property taxes in Bowbells, 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 Bowbells is 1.08%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Bowbells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowbells 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 Bowbells' effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58721 zip code has the highest median property tax rate of 1.08%, while the same 58721 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Bowbells provides valuable insights into the varying tax landscape across Burke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowbells Tax Rate
0.64%
Average Ward County Tax Rate
1.65%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowbells, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58721 | 0.62% | 0.63% | 0.64% | 0.65% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Bowbells, North Dakota
In Bowbells, 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 local 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 Bowbells, 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 Bowbells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Bowbells has a median home price of $293,000. The 25th percentile tax bill stands at $1,346, while the 75th percentile reaches $2,478. The highest and lowest median tax bills are both $1,912, found in the zip code 58721.
Average Bowbells Assessed Value
$293,000
Average Ward County Assessed Value
$201,000
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowbells, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58721 | $159,400 | $209,500 | $293,000 | $376,500 | $426,600 |
Source: Ownwell
Property Tax Bills Across Bowbells, North Dakota
In Bowbells, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by the county. For instance, in Ward County, where Bowbells is located, the median home price is $293,000. Homeowners in this area can see varying tax bills, with the 25th percentile paying around $1,346 and the 75th percentile paying up to $2,478. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. These property taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding these components is crucial as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Bowbells residents experience a range of tax bills, reflecting the diverse property values and local fiscal policies in the area.
Average Bowbells Tax Bill
$1,912
Average Ward County Tax Bill
$2,940
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowbells, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58721 | $1,006 | $1,346 | $1,912 | $2,478 | $2,818 |
Source: Ownwell