Example of Towner County Property Tax Calculation
To calculate Towner County Property Tax, the county assessor's office determines the assessed value of the property based on its market value. The assessed value is then multiplied by the mill levy, which is a property tax rate expressed in mills (one mill equals one dollar per one thousand dollars of assessed value). For example, if the assessed value of a property is $100,000 and the mill levy is 100, the Towner County Property Tax would be $10,000 (100,000 x 100 / 1000). It is important to note that mill levies can vary between different areas and can be influenced by factors such as school district funding and local government spending. Property owners in Towner County are responsible for paying their property taxes annually or can opt to pay in installments throughout the year.
If you want appeal your property tax assessment - contact your local tax assessor.
Towner County Property Tax Rates
The Towner County Property Tax rates for the current year are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $3.70 |
| School District | $10.50 |
| City of Cando | $6.80 |
Please note that these rates are subject to change and may vary depending on the property's location and assessed value. If you have any questions or concerns about your property taxes, it is recommended that you consult with a qualified tax advisor.
Who sets property tax rates in Towner County ?
In Towner County, property tax rates are set by the County Commission. The County Commission is a group of elected officials who oversee the county government and make decisions on behalf of their constituents.
The property tax rates are typically set annually during a public meeting. During this meeting, the County Commission reviews the county's budget and determines how much revenue is needed to fund local government services. They then set the property tax rate accordingly.
It's important to note that property tax rates can vary depending on the location and type of property. For example, residential properties may have a different tax rate than commercial properties. Additionally, property tax rates can be affected by changes in property values and other economic factors.
Overall, property tax rates are an important source of revenue for local governments. They help fund essential services like schools, roads, and public safety. If you have questions about property taxes in Towner County, you may want to consult with a local tax advisor or government official.
Homestead exemptions in Towner County ?
In Towner County, North Dakota, there are several Homestead exemptions and deductions available for eligible residents. Here is a list of county-specific exemptions and deductions that are available:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Agricultural Land | Owner of agricultural land | Varies based on acreage | Must file an application with the County Assessor |
| Disabled Veteran | Veteran with a service-related disability | $120,000 | Must have an honorable discharge and provide proof of disability |
| Elderly/Disabled | Homeowner who is 65 years or older OR permanently disabled | $10,000 | Must have a household income below a certain threshold |
| Family Farm | Owner of a family farm | Varies based on acreage | Must file an application with the County Assessor |
| Military | Active duty military personnel | Varies based on location | Must provide proof of active duty status |
| School District | Homeowner with a child enrolled in a public school district | Varies based on district | Must file an application with the County Assessor |
It is important to note that these exemptions and deductions may have specific eligibility requirements and application processes. Homeowners in Towner County should contact the County Assessor's office for more information on how to apply for these benefits.
When is Towner County Property Tax due ?
Towner County Property Tax Due Date and Payment Methods
The due date for Towner County Property Tax is determined by the North Dakota State Tax Commissioner, which is on March 1st of every year. Property taxes can be paid in full or in two installments, with the first payment due on March 1st and the second payment due on October 15th.
There are several payment methods available for Towner County Property Tax. The following table summarizes the payment options:
| Payment Method | Details |
|---|---|
| Online | Property owners can pay their taxes online using a credit card or eCheck through Towner County's online payment portal. |
| Property owners can mail a check or money order to the Towner County Treasurer's Office at 101 Main Street S, Cando, ND 58324. | |
| In-Person | Property owners can pay in person at the Towner County Treasurer's Office during regular office hours. Cash, check, or money order are accepted. |
| Drop Box | A drop box is available outside the Towner County Treasurer's Office for property owners who wish to drop off their payment outside of regular office hours. |
It is important to note that failure to pay property taxes on time may result in penalties and interest charges. Thus, it is recommended for property owners to make timely payments to avoid any additional fees.
In summary, Towner County property taxes are typically due on March 1st of every year and can be paid through online, mail, in-person, or drop box payment methods.
If you have more questions - contact your local tax collector.
How is Towner County Property Tax penalty calculated ?
Towner County in North Dakota imposes a penalty on late payment of property taxes. The penalty is calculated based on the amount of taxes owed and the duration of the delay in payment.
To calculate the penalty, Towner County uses a simple formula:
- Initial Penalty: 5% of the unpaid taxes at the time of the deadline.
- Monthly Penalty: An additional 1% of the unpaid taxes for every month or fraction thereof that the payment is late.
For example, let's say that John owns a property in Towner County and his property tax bill is due on January 31st. The total amount of taxes owed is $5,000. However, John is unable to pay the full amount by the due date and misses the deadline by two months. Here's how the penalty is calculated:
- Initial Penalty: 5% of $5,000 = $250
- Monthly Penalty: 1% of $5,000 for each month, totaling 2% = $100 (2 x $5,000 x 1%)
Therefore, John's total penalty for being two months late in paying his property taxes is $350 ($250 + $100). This penalty is in addition to the original $5,000 tax bill.
It's important to note that penalties for late payment of property taxes vary by state and county. Property owners should always be aware of the deadlines and penalties associated with their property tax bills to avoid any unnecessary charges.
We recommend contacting the Towner County Tax Office or a local tax professional for the most up-to-date and accurate information.