Example of Mckenzie County Property Tax Calculation
McKenzie County calculates its property taxes by multiplying the assessed value of the property by the tax rate. For example, if a property in McKenzie County has an assessed value of $100,000 and the tax rate is 1.5%, the property tax owed would be $1,500.
To determine the assessed value, the county assessor will evaluate the property and determine its market value. This is typically done by looking at recent sales of similar properties in the area and considering any improvements or changes to the property.
Once the assessed value has been determined, it is multiplied by the tax rate to determine the amount owed in property taxes. The tax rate is set by the county and can vary from year to year depending on the county's budget and other factors.
Property owners in McKenzie County can pay their property taxes in full or in installments throughout the year. Failure to pay property taxes can result in penalties and interest being added to the owed amount.
If you want appeal your property tax assessment - contact your local tax assessor.
Mckenzie County Property Tax Rates
Here is a formatted table of the property tax rates in Mckenzie County, listed in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $4.37 |
| City Tax | $5.39 |
| School District 1 Tax | $10.20 |
| School District 16 Tax | $12.80 |
| Garrison Diversion Tax | $0.50 |
| Total Tax Rate | $33.26 |
Note that these rates are subject to change and may vary depending on individual property assessments. It is recommended to consult with a local tax advisor for specific information regarding property taxes in Mckenzie County.
Who sets property tax rates in Mckenzie County ?
Property Tax Rates in McKenzie County
Property tax rates in McKenzie County are set by the McKenzie County Board of Commissioners. The board meets annually to determine the tax rates for the upcoming year. The rates are typically set in the fall, prior to the tax assessment period.
The rate is expressed as a percentage of the property's assessed value, which is determined by the county assessor's office. Property tax rates may vary depending on the location of the property and its use.
It's important to note that property taxes are a significant source of revenue for local governments, including McKenzie County. These funds are used to support important services such as education, public safety, and infrastructure development.
If you have questions about your property tax assessment or need help navigating the tax system, consider reaching out to a qualified tax advisor or attorney.
Homestead exemptions in Mckenzie County ?
In McKenzie County, North Dakota, there are several county-specific Homestead exemptions and deductions that homeowners may be eligible for. Here is a breakdown of each exemption and deduction, along with their eligibility requirements, the amount of the exemption or deduction, and any additional notes:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Credit | Primary residence with owner as of February 1 | Up to $6,750 | Must apply by February 15 |
| Disabled Veterans' Exemption | Honorably discharged veteran with a service-related disability | Up to $150,000 | Must provide proof of disability |
| Agricultural Land Exemption | Agricultural land used for production | Variable | Based on the value of the land and the amount of production |
| Charitable Organization Property Tax Exemption | Property owned by a legitimate charitable organization | Exempt from property taxes | Must provide proof of nonprofit status |
| Solar Energy System Exemption | Property with a solar energy system installed | Exempt from property taxes | Must provide proof of installation |
It is important to note that eligibility requirements and exemption/deduction amounts may vary by county or state. Homeowners in McKenzie County should consult with their local tax assessor's office for more information on which exemptions and deductions they may be eligible for.
When is Mckenzie County Property Tax due ?
Mckenzie County Property Tax is typically due on December 15th of each year. There are a few payment methods available for residents to make their payment, including:
- In-person: Residents can make their payment in person at the Mckenzie County Treasurer's Office.
- Mail: Payments can be mailed to the Mckenzie County Treasurer's Office at their designated address.
- Online: Residents can also make their payment online through the Mckenzie County website.
It is important to note that payments made after the due date may result in penalties and interest. Therefore, it is highly recommended that residents make their payment before the due date.
Overall, paying property tax in Mckenzie County is a straightforward process with multiple payment options available to residents.
If you have more questions - contact your local tax collector.
How is Mckenzie County Property Tax penalty calculated ?
Mckenzie County calculates property tax penalties based on the following guidelines:
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Late payment penalty: If the property taxes are not paid by the due date, a late payment penalty will be assessed. The penalty amount is calculated using a rate of 5% of the unpaid taxes and is applied for the first month. After that, the penalty increases to 1% per month until the taxes are paid.
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Delinquent taxes penalty: If the taxes remain unpaid after a certain period of time, the county may declare them delinquent. At this point, an additional penalty of 3% will be added to the unpaid amount.
Here's an example:
Suppose John owns a property in Mckenzie County with a tax bill of $10,000 due on January 1, 2021. He fails to pay the bill until February 15, 2021, which is already 45 days late. Here's how the penalty will be calculated:
- Late payment penalty: 5% of $10,000 = $500
- Delinquent taxes penalty: 3% of $10,000 = $300
Therefore, John will have to pay $10,000 + $500 + $300 = $10,800.
It's important to note that these penalties are in addition to any interest charges that may be applied to the unpaid balance. The county may also take legal action against the property owner for non-payment of taxes. Property owners should make sure to pay their taxes on time to avoid penalties and legal complications.
We recommend contacting the Mckenzie County Tax Office or a local tax professional for the most up-to-date and accurate information.