Forest River, Grand Forks County, North Dakota Property Taxes

Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually calculates its required budget to fund services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While setting tax rates and budgets involves votes and legal frameworks, this is essentially the process followed each year.

In Forest River, located in county 38035 in North Dakota, the effective property tax rate offers an interesting comparison point. The rate here is a reflection of the local government's financial needs balanced against the assessed property values. North Dakota's median property tax rate is 0.99%, slightly below the national median rate of 1.02%. This means that property owners in Forest River might experience a different tax landscape compared to other parts of the country, where the median property tax bill is $2,400. Understanding these differences can provide insights into how local fiscal policies impact property owners and the overall cost of living in this region.

In Forest River, Grand Forks County, ND, property tax bills are determined by assessing a property's value and applying the local tax rate. The assessed value is based on the market value of the home, which in this region has a median price of $270,550. Homeowners in this area face property tax bills that typically range from $2,129 at the 25th percentile to $3,724 at the 90th percentile. Compared to the national median property tax bill of $2,400, Forest River homeowners experience a slightly higher burden, particularly at the upper percentiles.

Several factors influence the property tax bill, including the property's assessed value and any applicable exemptions or deductions. This financial obligation can significantly impact homeowners, especially if property values rise, leading to higher taxes. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing each homeowner’s specific situation, Ownwell can identify opportunities for tax savings, potentially reducing the tax burden and ensuring homeowners only pay their fair share.