Cathay, Wells County, North Dakota Property Taxes

Name: Property Tax Bills Across Cathay, Wells County, North Dakota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Cathay, ND effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, but lower than the North Dakota state median of 1.30%.
Median Cathay, ND home value: $79,160
Median annual Cathay, ND tax bill: $348, $2,052 lower than the national median property tax bill of $2,400.

How are property taxes in Wells calculated?

Property taxes in Cathay, ND are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Cathay’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cathay, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Cathay, Wells County, North Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.54%

Estimate Property Tax Bill

$427

$397

Ownwell’s Cathay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cathay with just two data points. By entering your property's estimated assessed value, our calculator applies Cathay’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wells County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cathay, Wells County, North Dakota

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Cathay’s effective property tax rate to other cities in North Dakota and the median property tax rates in North Dakota and the U.S.

In Cathay, located in Wells County, residents experience a property tax rate of 0.54%, which is notably below the national median of 1.02%. This means that property owners in Cathay pay less in taxes compared to the national average, potentially making it an attractive location for property investment. The consistency in tax rates across Wells County, with the highest and lowest median tax rates both at 0.54%, underscores a stable tax environment. For those considering relocating or investing in property, understanding these tax implications is crucial. North Dakota’s lower-than-average property tax rates can offer significant savings over time, enhancing the overall appeal of living or investing in Cathay.

Property Tax Rates Across Cathay, Wells County, North Dakota

Source: Ownwell

0.40%

0.66%

0.93%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Cathay Taxx Rate

0.54%

Median Effective Wells County Taxx Rate

0.66%

Median Effective North Dakota Tax Rate

1.30%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cathay, Wells County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
58422	0.23%	0.41%	0.54%	0.64%	0.75%

Source: Ownwell

Property Tax Assessment Values Across Cathay, Wells County, North Dakota

When examining property taxes in Cathay, North Dakota, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wells County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Wells County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cathay. For example, the median home price in Cathay is $79,160, with tax bills ranging significantly across the county. 58422 has the highest median home price at $79,160.

Property Tax Assessment Values Across Cathay, Wells County, North Dakota

Source: Ownwell

$33,000

$103,310

$173,620

Median Cathay Market Value

$79,160

Median Wells County Market Value

$119,440

Median North Dakota Market Value

$217,800

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cathay, Wells County, North Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
58422	$5,402	$15,075	$79,160	$210,255	$391,080

Source: Ownwell

Property Tax Bills Across Cathay, Wells County, North Dakota

In Cathay, located in Wells County, ND, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any applicable exemptions can influence the assessed value, impacting the final tax bill. The median home price in Cathay is $79,160, significantly lower than the national median, resulting in a lower property tax burden for homeowners. With a median property tax bill of $348, Cathay residents pay substantially less than the national median tax bill of $2,400. However, tax bills can vary widely, with some homeowners paying as little as $68 or as much as $1,507. Ownwell assists homeowners by identifying potential savings through appealing assessments and applying for exemptions, ensuring they are not overpaying on their property taxes. This service can provide significant financial relief and peace of mind.

Property Tax Bills Across Cathay, Wells County, North Dakota

Source: Ownwell

$127

$714

$1,300

Median Cathay Tax Bill

$348

Median Wells County Tax Bill

$862

Median North Dakota Tax Bill

$2,659

Median United States Tax Bill

$2,690

Property Tax Bills Across Cathay, Wells County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
58422	$33	$68	$348	$736	$1,507

Source: Ownwell