Colfax, Richland County, North Dakota Property Taxes
Median Colfax, ND effective property tax rate: 1.10%, significantly higher than the national median of 1.02%, but lower than the North Dakota state median of 1.30%.
Median Colfax, ND home value: $197,350
Median annual Colfax, ND tax bill: $2,175, $225 lower than the national median property tax bill of $2,400.
How are property taxes in Richland calculated?
Property taxes in Colfax, 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 Colfax’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Colfax, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Colfax, Richland County, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.1%
Estimate Property Tax Bill
$2,171
$2,014
Property Tax Rates Across Colfax, Richland County, North Dakota
Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide essential 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.
In Colfax, located in Richland County, North Dakota, the effective property tax rate is a reflection of this process. When comparing Colfax’s rate to other cities in North Dakota, it’s important to consider how it stacks up against both the state’s median property tax rate and the national median. With North Dakota's median property tax rate at 1.10%, slightly above the national median of 1.02%, property owners in Colfax experience a rate that is competitive within both state and national contexts. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. By staying informed, property owners can make strategic decisions regarding property tax appeals and exemptions, ensuring they are not overpaying on their property taxes.
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 Colfax Tax Rate
1.10%
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 Richland County Tax Rate
1.58%
Median Effective North Dakota Tax Rate
1.30%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Colfax, Richland County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58018 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Colfax, Richland County, North Dakota
When examining property taxes in Colfax, North Dakota, 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 Richland 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 Richland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Colfax. For example, the median home price in Colfax is $197,350, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Colfax, Richland County, North Dakota
Source: Ownwell
$122,250
$122,250
$122,250
Median Colfax Market Value
$197,350
Median Richland County Market Value
$121,100
Median North Dakota Market Value
$217,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Colfax, Richland County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58018 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Colfax, Richland County, North Dakota
In Colfax, located in Richland County, ND, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors who evaluate the market value of the property. Homeowners in this area face a median property tax bill that can vary significantly, with the 25th percentile paying around $1,461 and the 75th percentile seeing bills as high as $2,889. For those at the 90th percentile, the tax bill can reach $3,318. These figures highlight the variability in property tax obligations, which can impact homeowners' financial planning.
Compared to the national median property tax bill of $2,400, Colfax residents may find themselves paying less or more, depending on their property's assessed value. This is where Ownwell can make a difference. By offering property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax burden. Through expert analysis and negotiation, Ownwell ensures that homeowners are not overpaying on their property taxes, offering peace of mind and potential savings.
Median Colfax Tax Bill
$2,175
Median Richland County Tax Bill
$1,800
Median North Dakota Tax Bill
$2,659
Median United States Tax Bill
$2,400
Property Tax Bills Across Colfax, Richland County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58018 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell