Loraine, Renville County, North Dakota Property Taxes

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

Median Loraine, ND effective property tax rate: 1.38%, significantly higher than the national median of 1.02%, but lower than the ND state median of 1.30%.
Median Loraine, ND home value: $24,110
Median annual Loraine, ND tax bill: $334, $2,066 lower than the national median property tax bill of $2,400.

How are property taxes in Renville calculated?

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

Last Updated March 1, 2025

Loraine, Renville County, North Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.38%

Estimate Property Tax Bill

$333

$309

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

Property Tax Rates Across Loraine, Renville County, North Dakota

Local government entities are responsible for setting property tax rates, which can vary significantly within a state. This variation occurs because each county annually calculates its necessary budget to fund public services and divides this amount by the total value of all taxable properties within its boundaries, resulting in the property tax rate. Although the process involves votes and legislation, this is essentially how it functions each year. In Loraine, located in Renville County, North Dakota, you can compare its effective property tax rate to other cities within the state, as well as to the median property tax rates of both North Dakota and the United States. With North Dakota's median property tax rate at 1.38%, it is higher than the national median of 1.02%. This comparison offers valuable insights into how Loraine's property tax obligations stack up against broader averages, highlighting potential opportunities for tax savings through appeals or exemptions. Understanding these differences is crucial for property owners aiming to optimize their tax liabilities.

Property Tax Rates Across Loraine, Renville County, North Dakota

Source: Ownwell

0.77%

1.08%

1.38%

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 Loraine Tax Rate

1.38%

Median Effective Renville County Tax Rate

1.30%

Median Effective North Dakota Tax Rate

1.30%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Loraine, Renville County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
58761	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Loraine, Renville County, North Dakota

When examining property taxes in Loraine, 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 Renville County appraisal district 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 Renville 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 Loraine. For example, the median home price in Loraine is $24,110, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Loraine, Renville County, North Dakota

Source: Ownwell

$26,340

$63,398

$100,455

Median Loraine Market Value

$24,110

Median Renville County Market Value

$65,650

Median North Dakota Market Value

$217,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Loraine, Renville County, North Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
58761	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Loraine, Renville County, North Dakota

In Loraine, Renville County, ND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The property tax rate is applied to this assessed value to calculate the tax bill. With a median home price of $24,110, homeowners in Loraine face a median property tax bill of $334, 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 in the area. However, even with lower property values, homeowners can still benefit from ensuring their property is assessed accurately. Ownwell offers services to help homeowners appeal their property tax assessments, potentially leading to reductions in their tax bills. By analyzing the local market and assessment data, Ownwell can identify discrepancies and assist homeowners in filing appeals. This ensures that homeowners are not overpaying on their property taxes, providing peace of mind and potential savings.

Property Tax Bills Across Loraine, Renville County, North Dakota

Source: Ownwell

$217

$656

$1,095

Median Loraine Tax Bill

$334

Median Renville County Tax Bill

$701

Median North Dakota Tax Bill

$2,659

Median United States Tax Bill

$2,400

Property Tax Bills Across Loraine, Renville County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
58761	N/A	N/A	N/A	N/A	N/A

Source: Ownwell