New Rockford, North Dakota Property Taxes
The median property tax rate in New Rockford, ND is 0.41%, significantly lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in New Rockford, the typical annual property tax bill amounts to $414, which is well below the national median of $2,690. Property taxes in New Rockford are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding New Rockford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of New Rockford 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
New Rockford, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$390
Ownwell’s New Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Rockford 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 New Rockford, North Dakota
Property taxes in New Rockford, 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 New Rockford is 0.41%, which is significantly lower than both the North Dakota state median and the U.S. national median of 0.99%. Local government entities within New Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Rockford 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 New Rockford's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58356 zip code has both the highest and lowest median property tax rate of 0.41%. Understanding how these areas compare with New Rockford provides valuable insights into the varying tax landscape across Wells County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Rockford Tax Rate
0.41%
Average Wells County Tax Rate
0.66%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | 0.20% | 0.41% | 0.41% | 0.44% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across New Rockford, North Dakota
In New Rockford, 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 Wells 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 New Rockford, 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. The median home price in New Rockford is $95,240, with tax bills ranging from $101 at the 25th percentile to $910 at the 90th percentile. The highest and lowest median tax bills are both $414, found in zip code 58356. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Rockford, North Dakota
Source: Ownwell
$33,000
$222,440
$411,880
Average New Rockford Assessed Value
$95,240
Average Wells County Assessed Value
$119,440
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | $11,916 | $34,665 | $95,240 | $173,120 | $253,484 |
Source: Ownwell
Property Tax Bills Across New Rockford, North Dakota
In New Rockford, located in Wells County, ND, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, the median home price in New Rockford is $95,240. Property tax bills can vary significantly, with the 25th percentile tax bill at $101 and the 75th percentile reaching $718. At the 90th percentile, homeowners might see tax bills as high as $910. These variations depend on factors like property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, New Rockford's tax rates can be considered relatively low, providing some financial relief to homeowners. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and manage their budgets effectively.
Average New Rockford Tax Bill
$414
Average Wells County Tax Bill
$862
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across New Rockford, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58356 | $11 | $101 | $414 | $718 | $910 |
Source: Ownwell