Ray, North Dakota Property Taxes
The median property tax rate in RAY, ND is 1.04%, 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 $140,600 in RAY, the typical annual property tax bill amounts to $1,340, which is below the national median of $2,690. Property taxes in RAY are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding RAY'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 RAY or another part of Williams County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ray, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,462
Ownwell’s RAY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RAY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RAY 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 Ray, North Dakota
Property taxes in RAY, 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 RAY is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within RAY set these rates annually, and they can vary significantly across different neighborhoods. Each year, RAY 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 RAY's effective property tax rate to other counties in North Dakota and the national median. For comparison, the 58849 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with RAY provides valuable insights into the varying tax landscape across Williams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ray Tax Rate
1.04%
Average Williams County Tax Rate
0.85%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ray, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58849 | 0.60% | 0.61% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Ray, North Dakota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in RAY, 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 Williams 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 RAY, 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 highest median tax bill in RAY is $1,340 in the 58849 zip code, while the lowest is also $1,340 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ray Assessed Value
$140,600
Average Williams County Assessed Value
$213,050
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ray, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58849 | $32,000 | $68,820 | $140,600 | $234,510 | $349,010 |
Source: Ownwell
Property Tax Bills Across Ray, North Dakota
In RAY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor's office and reflects a percentage of the home's market value. For instance, with a median home price of $140,600, the assessed value would be a portion of this figure. The local tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's location, size, and condition, as well as any applicable exemptions or deductions. In RAY, homeowners can expect tax bills to vary significantly. For example, the 25th percentile tax bill is $772, while the 75th percentile tax bill is $2,168, and the 90th percentile tax bill reaches $2,902. These variations can impact homeowners' budgets and financial planning, making it essential to understand how property taxes are calculated and what factors might affect their specific tax bill.
Average Ray Tax Bill
$1,340
Average Williams County Tax Bill
$2,001
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Ray, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58849 | $454 | $772 | $1,340 | $2,168 | $2,902 |
Source: Ownwell