Carpio, North Dakota Property Taxes
The median property tax rate in Carpio, ND is 0.81%, which is lower than both the national median of 0.99% and the North Dakota state median of 1.30%. With a median home value of $110,694 in Carpio, the typical annual property tax bill is around $882, significantly below the national median of $2,690. Property taxes in Carpio are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Carpio'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 Carpio or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carpio, North Dakota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,600
Ownwell’s Carpio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carpio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carpio 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 Carpio, North Dakota
Property taxes in Carpio, 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 Carpio is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Carpio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carpio 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 Carpio's effective property tax rate to other areas in Renville County and the national median. For comparison, the zip code 58725 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Carpio provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carpio Tax Rate
0.81%
Average Renville County Tax Rate
1.30%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carpio, North Dakota
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
58725 | 0.79% | 0.79% | 0.81% | 0.82% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Carpio, North Dakota
In Carpio, 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 Renville County Assessor’s Office 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 Carpio, 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. Being aware of these valuation processes in Carpio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carpio, both at $882, are found in the 58725 zip code.
Average Carpio Assessed Value
$110,694
Average Renville County Assessed Value
$65,650
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carpio, North Dakota
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
58725 | $77,051 | $89,667 | $110,694 | $131,721 | $144,337 |
Source: Ownwell
Property Tax Bills Across Carpio, North Dakota
In Carpio, located in Renville County, ND, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Homeowners in Carpio can expect their tax bills to vary significantly depending on the assessed value of their property and the local tax rate. For instance, the median home price in Carpio is $110,694, and property taxes can range from the 25th percentile at $728 to the 90th percentile at $1,129. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions or deductions. Homeowners should be aware that while the national median property tax rate is 0.99%, local rates can differ, affecting the overall tax burden. Understanding these elements is crucial for homeowners to anticipate their annual property tax obligations and manage their finances effectively.
Average Carpio Tax Bill
$882
Average Renville County Tax Bill
$701
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Carpio, North Dakota
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
58725 | $635 | $728 | $882 | $1,037 | $1,129 |
Source: Ownwell