Fairmount, Richland County, North Dakota Property Taxes

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

Median Fairmount, ND effective property tax rate: 1.46%, significantly higher than the national median of 1.02%, but lower than the North Dakota state median of 1.30%.
Median Fairmount, ND home value: $16,950
Median annual Fairmount, ND tax bill: $247, $2,153 lower than the national median property tax bill of $2,400.

How are property taxes in Richland calculated?

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

Last Updated March 1, 2025

Fairmount, Richland County, North Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.46%

Estimate Property Tax Bill

$247

$230

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

Property Tax Rates Across Fairmount, Richland County, North Dakota

Local government entities in Fairmount, Richland County, ND, set property tax rates, and these can vary significantly within the state. Each year, the county determines its budgetary needs for services and divides this by the total value of all taxable property in the area, resulting in the property tax rate. This process, involving votes and legislative measures, is how tax rates and budgets are typically established annually.

Fairmount's effective property tax rate offers a unique perspective when compared to other cities in North Dakota, as well as the median property tax rates within the state and across the U.S. With a median property tax rate of 1.46%, North Dakota's rate is notably higher than the national median of 1.02%, reflecting the state's approach to funding local services. Understanding these differences can help property owners in Fairmount make informed decisions about their investments and financial planning. By examining these rates, residents can better appreciate how local government funding impacts their community and their personal finances.

Property Tax Rates Across Fairmount, Richland County, North Dakota

Source: Ownwell

1.58%

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 Fairmount Tax Rate

1.46%

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 Fairmount, Richland County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
58030	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Fairmount, Richland County, North Dakota

When examining property taxes in Fairmount, 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. 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 Fairmount. For example, the median home price in Fairmount is $16,950, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Fairmount, Richland County, North Dakota

Source: Ownwell

$122,250

Median Fairmount Market Value

$16,950

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 Fairmount, Richland County, North Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
58030	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Fairmount, Richland County, North Dakota

In Fairmount, Richland County, ND, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Fairmount experience property tax bills that can vary significantly. The 25th percentile tax bill is $139, while the 75th percentile reaches $354, and the 90th percentile is $418. Compared to the national median property tax bill of $2400, Fairmount homeowners generally pay less, but the rates can still impact household budgets.

Factors influencing the tax bill include changes in home market values and local government budget needs. As property values fluctuate, so do the assessed values, directly affecting the amount homeowners pay in property taxes. Ownwell provides a valuable service to homeowners by offering property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can help reduce property tax bills, ensuring homeowners pay only their fair share. This assistance can lead to significant savings, alleviating the financial burden on homeowners.

Property Tax Bills Across Fairmount, Richland County, North Dakota

Source: Ownwell

$1,871

Median Fairmount Tax Bill

$247

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 Fairmount, Richland County, North Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
58030	N/A	N/A	N/A	N/A	N/A

Source: Ownwell