Fairmount, Richland County, North Dakota Property Taxes
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
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$1,843
$1,711
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.
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
0.99%
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
1.57%
Median Effective North Dakota Tax Rate
1.20%
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
Property Tax Assessment Values Across Fairmount, Richland County, North Dakota
Source: Ownwell
$51,000
$95,575
$140,150
Median Fairmount Market Value
$186,200
Median Richland County Market Value
$148,850
Median North Dakota Market Value
$244,000
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.
Median Fairmount Tax Bill
$1,843
Median Richland County Tax Bill
$1,940
Median North Dakota Tax Bill
$2,769
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