Balfour, Mchenry County, North Dakota Property Taxes

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

Median Balfour, ND effective property tax rate: 0.72%, significantly lower than the national median of 1.02%, but lower than the North Dakota state median of 1.30%.
Median Balfour, ND home value: $93,050
Median annual Balfour, ND tax bill: $670, $1,730 lower than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Balfour, Mchenry County, North Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.72%

Estimate Property Tax Bill

$670

$622

Ownwell’s Balfour Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Balfour with just two data points. By entering your property's estimated assessed value, our calculator applies Balfour’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 McHenry County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Balfour, Mchenry 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 Balfour’s effective property tax rate to other cities in North Dakota and the median property tax rates in North Dakota and the U.S. Balfour, located in McHenry County, has an effective property tax rate of 0.72%. This is significantly lower than the national median property tax rate of 1.02%. Homeowners in Balfour benefit from this lower tax rate, which can result in substantial savings compared to the national average. Understanding these rates can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Balfour, Mchenry County, North Dakota

Source: Ownwell

1.18%

1.30%

1.43%

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 Balfour Tax Rate

0.72%

Median Effective Mchenry County Tax Rate

1.11%

Median Effective North Dakota Tax Rate

1.30%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Balfour, Mchenry County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
58712	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Balfour, Mchenry County, North Dakota

When examining property taxes in Balfour, ND, 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 McHenry County Assessor 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.

In McHenry 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 Balfour. For example, the median home price in Balfour is $93,050, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Balfour, Mchenry County, North Dakota

Source: Ownwell

$62,250

$75,400

$88,550

Median Balfour Market Value

$93,050

Median Mchenry County Market Value

$74,300

Median North Dakota Market Value

$217,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Balfour, Mchenry County, North Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
58712	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Balfour, Mchenry County, North Dakota

In Balfour, located in McHenry County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Balfour is $93,050, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Balfour typically face a property tax bill of $670, which is significantly lower than the national median property tax bill of $2,400. This lower tax bill can be attributed to the relatively low property values and tax rates in the area. However, even with lower rates, homeowners may still be paying more than necessary if their property is over-assessed. This is where Ownwell can assist. By providing expert property tax appeal services, Ownwell helps homeowners ensure their assessments are accurate, potentially reducing their tax burden. With a focus on maximizing savings, Ownwell guides homeowners through the appeal process, ensuring they pay only their fair share in property taxes.

Property Tax Bills Across Balfour, Mchenry County, North Dakota

Source: Ownwell

$598

$954

$1,310

Median Balfour Tax Bill

$670

Median Mchenry County Tax Bill

$855

Median North Dakota Tax Bill

$2,659

Median United States Tax Bill

$2,400

Property Tax Bills Across Balfour, Mchenry County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
58712	N/A	N/A	N/A	N/A	N/A

Source: Ownwell