Example of Lamoure County Property Tax Calculation
When calculating the property tax for a property located in Lamoure County, North Dakota, the county treasurer's office takes into account several factors. These factors include the property's assessed value, the mill levy rate, and any applicable exemptions.
First, the county assessor determines the market value of the property. This value is then multiplied by the local assessment ratio, which is set by the state. The resulting assessed value is then used to calculate the property tax.
Next, the mill levy rate is applied to the assessed value. A mill is a unit of measurement equal to one-tenth of one percent, or 0.001. For example, if the property has an assessed value of $100,000 and the mill levy rate is 100 mills, the property tax would be $10,000.
Finally, any applicable exemptions are applied to the tax calculation. Common exemptions include those for veterans, senior citizens, and disabled persons.
It is important to note that property tax rates and assessment methods can vary widely by state and even by county within a state. It is advisable to consult with a local tax professional or government agency for specific information on property tax calculations in Lamoure County or any other location.
If you want appeal your property tax assessment - contact your local tax assessor.
Lamoure County Property Tax Rates
Lamoure County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $6.49 |
| School | $9.61 |
| City | $6.75 |
| Township | $2.44 |
| Park | $0.60 |
As a tax advisor, it is important to be familiar with the property tax rates in Lamoure County. The table above provides a clear and concise breakdown of the different taxes and their corresponding rates per $100 of assessed value. The county tax rate is $6.49, the school tax rate is $9.61, the city tax rate is $6.75, the township tax rate is $2.44, and the park tax rate is $0.60. This information can be useful for individuals and businesses seeking to purchase property or assess their tax liabilities in Lamoure County.
Who sets property tax rates in Lamoure County ?
The property tax rates in Lamoure County are set by the county commissioners. This typically occurs during a budgeting meeting which takes place annually. The commissioners review and assess the county's finances, including the anticipated expenses for the year, and determine the appropriate property tax rate necessary to meet those expenses. Property owners within the county can expect to receive a notification of the new tax rate in the mail, typically in the form of a property tax statement. It is important for property owners to review and understand their property tax statement to ensure that they are aware of their tax obligations and can budget accordingly.
Homestead exemptions in Lamoure County ?
In Lamoure County, North Dakota, there are several Homestead exemptions and deductions available for eligible individuals. These include:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Credit | Homeowners who occupy their primary residence | Up to $4,500 | Must file Form ND-1CR |
| Elderly and Disabled Homestead Credit | Homeowners who are at least 65 years old or disabled | Up to $6,750 | Must file Form ND-1CR and provide proof of age or disability |
| Military Tax Exemption | Military personnel who are on active duty and stationed outside of North Dakota | 100% exemption | Must file Form ND-1MIL |
| Disabled Veterans Exemption | Veterans who have a service-related disability of at least 50% | Up to $120,000 | Must file Form ND-1CR and provide proof of disability |
| Agricultural Land Exemption | Farmers who use their land for agricultural purposes | Varies | Must file Form ND-1CR and provide proof of agricultural use |
It is important to note that these exemptions and deductions may have additional eligibility requirements and application procedures. Individuals interested in applying for these benefits should contact the Lamoure County Assessor's Office for more information.
When is Lamoure County Property Tax due ?
Lamoure County Property Tax is typically due on March 1st every year, with a grace period until April 1st. Property owners can pay their property taxes in several methods, including:
- In-person: Property owners can pay in person at the Lamoure County Treasurer's office, located at 202 4th Ave. NE, Lamoure, ND 58458. Office hours are Monday through Friday, from 8:00 am to 4:30 pm.
- By mail: Property owners can also mail their payment to the Lamoure County Treasurer's office. The mailing address is P.O. Box 128, Lamoure, ND 58458. Please make sure to include your property tax statement and write your parcel number on your check.
- Online: Property owners can pay their property taxes online using a credit card or e-check through the county's payment portal. This method is available 24/7 and can be accessed through the county's website at www.co.lamoure.nd.us/treasurer.
It is important to note that late payments will result in interest and penalties being added to the total amount owed. Therefore, property owners should ensure their payment is received by the county treasurer's office no later than April 1st.
If you have more questions - contact your local tax collector.
How is Lamoure County Property Tax penalty calculated ?
Lamoure County Property Tax Penalty Calculation
Lamoure County calculates the property tax penalty using a simple formula that takes into account the amount of unpaid taxes and the number of days past due.
Formula for Penalty Calculation
The formula for calculating the penalty is as follows:
Penalty = Unpaid Taxes * (Penalty Rate/365) * Number of Days Past Due
Where:
Unpaid Taxesis the amount of taxes that are still outstanding.Penalty Rateis the interest rate that the county charges for late payments.Number of Days Past Dueis the number of days that the taxes have been delinquent.
Penalty Rate
The penalty rate varies depending on the year and the type of property. As of 2021, the penalty rate for residential properties is 14%, while the rate for commercial properties is 18%.
Example
Suppose an individual owns a residential property in Lamoure County with a property tax bill of $1,000 due on June 1st, 2021. The individual fails to pay the taxes on time and is now 60 days past due. The penalty calculation will be as follows:
Penalty = $1,000 * (14/365) * 60
Penalty = $77.26
Therefore, the individual will have to pay a penalty of $77.26 in addition to the original tax amount of $1,000.
It is important to note that penalties can add up quickly, and it is always in the best interest of the property owner to pay their taxes on time to avoid such penalties.
We recommend contacting the Lamoure County Tax Office or a local tax professional for the most up-to-date and accurate information.