Surrey, North Dakota Property Taxes
The median property tax rate in Surrey, ND is 1.21%, slightly higher than the national median of 0.99% but lower than the North Dakota state median of 1.30%. With a median home value of $250,000 in Surrey, the typical annual property tax bill reaches $2,721, just above the national median of $2,690. Property taxes in Surrey are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Surrey'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 Surrey 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
Surrey, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$3,025
$2,807
Ownwell’s Surrey Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Surrey with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Surrey to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Surrey, North Dakota
Property taxes in Surrey, North Dakota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Surrey is 1.21%, higher than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within Surrey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Surrey 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 Surrey's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58785 zip code has the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Surrey 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 Surrey Tax Rate
1.21%
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 Surrey, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58785 | 0.95% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Surrey, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Surrey, 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 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 Surrey, 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. For instance, the median home price in Surrey is $250,000, with annual tax bills ranging from $1,986 at the 25th percentile to $4,103 at the 90th percentile. The highest and lowest median tax bills, both at $2,721, are found in the 58785 zip code. Being aware of these valuation processes in Surrey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Surrey Assessed Value
$250,000
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 Surrey, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58785 | $139,600 | $175,000 | $250,000 | $305,000 | $346,800 |
Source: Ownwell
Property Tax Bills Across Surrey, North Dakota
In Surrey, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Ward County. The assessed value is typically a percentage of the market value of the property, which is determined by the county assessor. For instance, if a home has a market value of $250,000, the assessed value will be a fraction of that amount as determined by local regulations. The tax rate in Ward County is applied to this assessed value to determine the annual property tax bill. Various factors, including property size, location, and improvements, can influence the assessed value. Homeowners in Surrey can expect a median tax bill around $2,721, which is higher than the national median property tax rate of 0.99%. This can significantly impact household budgets, especially for those with properties in the 75th percentile, where tax bills can rise to approximately $3,524, and the 90th percentile, with bills reaching up to $4,103. Understanding these factors helps homeowners better anticipate their annual expenses.
Average Surrey Tax Bill
$2,721
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 Surrey, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58785 | $1,449 | $1,986 | $2,721 | $3,524 | $4,103 |
Source: Ownwell