Foxholm, North Dakota Property Taxes
The median property tax rate in Foxholm, ND is 0.95%, slightly below the national median of 0.99% and significantly lower than the North Dakota state median of 1.30%. With a median home value of $138,000 in Foxholm, the typical annual property tax bill amounts to $1,301, which is well below the national median of $2,690. Property taxes in Foxholm are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Foxholm's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Foxholm or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Foxholm, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,311
$1,217
Ownwell’s Foxholm Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foxholm with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foxholm 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 Foxholm, North Dakota
Property taxes in Foxholm, North Dakota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foxholm is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Foxholm set these rates annually, and they can vary across different neighborhoods. Each year, Foxholm 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 Foxholm's effective property tax rate to other areas in North Dakota and the national median. For comparison, the zip code 58718 has the same median property tax rate of 0.95%. Understanding how these areas compare with Foxholm provides valuable insights into the varying tax landscape across Ward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foxholm Tax Rate
0.95%
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 Foxholm, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58718 | 0.93% | 0.94% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Foxholm, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Foxholm, North Dakota. The market value represents 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 Ward 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 Foxholm, 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 Foxholm helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,301, both found in the 58718 zip code.
Average Foxholm Assessed Value
$138,000
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 Foxholm, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58718 | $42,000 | $88,000 | $138,000 | $157,000 | $161,000 |
Source: Ownwell
Property Tax Bills Across Foxholm, North Dakota
In Foxholm, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, homeowners in Foxholm, located in Ward County, face a median home price of $138,000. Property tax bills can vary significantly, with the 25th percentile paying around $832 annually, while those in the 75th percentile pay about $1,418. The 90th percentile sees tax bills as high as $1,523. Factors influencing these variations include property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Foxholm's rates can be seen as relatively moderate. This affects homeowners by influencing their overall housing costs and can impact decisions on buying or upgrading properties. Understanding these factors helps homeowners budget more effectively and anticipate future financial obligations.
Average Foxholm Tax Bill
$1,301
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 Foxholm, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58718 | $397 | $832 | $1,301 | $1,418 | $1,523 |
Source: Ownwell