Example of Benson County Property Tax Calculation
Benson County property tax is calculated based on the assessed value of the property. To calculate the property tax, the county assessor evaluates the value of the property using its market value, location, condition, and similar factors. The assessed value of the property is then multiplied by the property tax rate, which is determined by the local government based on its budget needs.
For example, let's say a 10-year-old boy named Jack owns a property in Benson County. The assessed value of Jack's property is $100,000, and the property tax rate is 1%. To calculate Jack's property tax, we first need to find the taxable value of his property by multiplying the assessed value by the tax rate:
Taxable value = Assessed value x Tax rate Taxable value = $100,000 x 0.01 Taxable value = $1,000
Therefore, Jack's property tax for the year would be $1,000. This tax amount helps fund the county's various public services, such as schools, roads, and emergency services.
If you want appeal your property tax assessment - contact your local tax assessor.
Benson County Property Tax Rates
The table below presents Benson County Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $2.99 |
| Agricultural | $3.12 |
| Commercial | $4.21 |
| Industrial | $4.07 |
| Personal Property | $3.87 |
It is important to note that these rates may vary depending on the specific location and property within Benson County. It is advised to consult with a local tax advisor for further information and guidance.
Who sets property tax rates in Benson County ?
In Benson County, property tax rates are set by the County Commission. This is typically done during their annual budgeting process, which usually takes place in the fall. The Commission takes into account various factors, such as the assessed value of properties in the county and the funding needs of local government agencies, when setting tax rates. Once the rates have been established, property owners will receive a statement indicating the amount of taxes owed based on the assessed value of their property. It's important to note that property tax rates can vary significantly from county to county within the United States, and can also be affected by state and local laws.
Homestead exemptions in Benson County ?
In Benson County, North Dakota, the Homestead Exemption program provides property tax relief to eligible homeowners. The county offers several exemptions and deductions that homeowners can take advantage of to reduce their property taxes. Here is a breakdown of the county-specific Homestead exemptions and deductions for Benson County:
Homestead Exemptions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead | Primary residence of homeowner | Up to $120,000 | Reduces taxable value of the property |
| Disabled Veterans | Veteran with 50% or more service-connected disability | Up to $120,000 | Reduces taxable value of the property |
| Blind | Blind homeowner | Up to $120,000 | Reduces taxable value of the property |
| Elderly and Disabled | 65 years or older or permanently disabled | Based on income | Reduces taxable value of the property |
Homestead Deductions:
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| School District | Primary residence of homeowner | Up to $1,000 | Deducted from property taxes |
| County | Primary residence of homeowner | Up to $500 | Deducted from property taxes |
| City/Township | Primary residence of homeowner | Up to $1,000 | Deducted from property taxes |
Notes:
- Homeowners can only claim one Homestead exemption.
- To claim an exemption or deduction, the homeowner must apply with the county assessor's office and meet the eligibility criteria.
- Homeowners must apply for exemptions and deductions by February 1st of each year.
By taking advantage of these Homestead exemptions and deductions, homeowners in Benson County can significantly reduce their property taxes and save money.
When is Benson County Property Tax due ?
Benson County Property Taxes are due on March 1st every year. Property owners are required to pay their taxes on or before this deadline to avoid any late fees or penalties. Here are the payment methods available to them:
| Payment Method | Description |
|---|---|
| Property owners can mail their payments to the Benson County Treasurer's Office. | |
| In-Person | Property owners can make their payments in-person at the Benson County Treasurer's Office. |
| Online | Property owners can pay their taxes online through the Benson County Treasurer's website. |
| Drop Box | Property owners can drop off their payments at the Benson County Treasurer's drop box located outside the courthouse. |
Please note that payments made by mail must be postmarked by March 1st to be considered on time. Property owners who are unable to pay their taxes in full by the deadline may be eligible for a payment plan. It is recommended that they contact the Benson County Treasurer's Office for more information.
If you have more questions - contact your local tax collector.
How is Benson County Property Tax penalty calculated ?
Benson County Property Tax Penalty Calculation:
In Benson County, North Dakota, property taxes are due on March 1st of every year. If property owners are unable to make the payment in full by then, they have the option to make two equal payments by March 1st and September 1st.
If the payment is not received by the deadline, a penalty will be assessed. The penalty is calculated based on the amount due and the number of days it is late.
The penalty calculation is as follows:
- Late payment fee of 1% of the total tax amount, which is added on the day after the due date.
- Interest of 1% per month (12% per year), which accrues on the unpaid balance of both the base tax and any penalties.
For example, if a property owner owes $2,000 in property taxes and is one month late in payment, the penalty would be calculated as follows:
- Late payment fee: $20 (1% of $2,000)
- Interest: $20 (1% of $2,000) x 1 month = $20
Therefore, the total penalty for one month late payment would be $40 ($20 late payment fee + $20 interest).
It is important for property owners in Benson County to pay their property taxes on time to avoid penalties and interest charges.
We recommend contacting the Benson County Tax Office or a local tax professional for the most up-to-date and accurate information.