Velva, Ward County, North Dakota Property Taxes
Median Velva, ND effective property tax rate: 0.84%, significantly lower than the national median of 1.02%, but lower than the North Dakota state median of 1.30%.
Median Velva, ND home value: $229,000
Median annual Velva, ND tax bill: $1,896, $504 lower than the national median property tax bill of $2,400.
How are property taxes in Ward County calculated?
Property taxes in Velva, 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 Velva’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Velva, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Velva, Ward County, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.84%
Estimate Property Tax Bill
$1,924
$1,785
Property Tax Rates Across Velva, Ward County, North Dakota
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. This is because each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the basic annual process.
In Velva, located in Ward County, the effective property tax rate is 0.84%. This rate is the same across the county, highlighting a uniform approach to property taxation in this area. When compared to the national median property tax rate of 1.02%, Velva's rate is notably lower, offering potential savings for property owners. The national median property tax bill stands at $2400, suggesting that homeowners in Velva might enjoy lower financial obligations due to the lower tax rate. Understanding these variations can help property owners make informed decisions about their investments and potential tax liabilities.
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 Velva Tax Rate
0.84%
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 Ward County Tax Rate
1.65%
Median Effective North Dakota Tax Rate
1.30%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Velva, Ward County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58790 | 0.80% | 0.83% | 0.84% | 0.85% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Velva, Ward County, North Dakota
When examining property taxes in Velva, 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 Ward 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: In Ward 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 Velva. For example, the median home price in Velva is $229,000, with tax bills ranging significantly across the county. Zip code 58790 has the highest median home price at $229,000.
Property Tax Assessment Values Across Velva, Ward County, North Dakota
Source: Ownwell
$83,000
$180,000
$277,000
Median Velva Market Value
$229,000
Median Ward County Market Value
$201,000
Median North Dakota Market Value
$217,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Velva, Ward County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58790 | $99,200 | $208,000 | $229,000 | $325,000 | $372,600 |
Source: Ownwell
Property Tax Bills Across Velva, Ward County, North Dakota
Median Velva Tax Bill
$1,896
Median Ward County Tax Bill
$2,940
Median North Dakota Tax Bill
$2,659
Median United States Tax Bill
$2,400
Property Tax Bills Across Velva, Ward County, North Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 58790 | $848 | $1,747 | $1,896 | $2,750 | $3,197 |
Source: Ownwell