Ultimate Burleigh County Real Property Tax Guide for 2024

You’ll pay only if there’s a tax reduction when you use protest firms on a contingency fee basis. This type of an agreement means the cost you incur won’t exceed a percentage of any tax reduction. Nothing saved in taxes means they receive no pay.

They’ll examine current assessments, conduct additional extensive research, look for opportunities for exemptions, explore tax rolls for errors, file appeals before going to conferences, and coordinate a lawsuit when required. Companies are especially active on exemption issues, which have shown to be confusing and sometimes lead to legal action.

When challenging taxes, two approaches are often utilized for re-computing proposed appraised values. A re-evaluation often incorporates one of these methods, i.e. a “sales comparison” or an “unequal appraisal” evaluation. Both involving local real property, sales comparisons appraise market values applying recent sales data while unequal appraisals highlight appraisal imbalances between similar real property.

Usually a sales comparison methodology is the choice of specialized firms. Usually it’s a complete assessment of the subject property. Directed by State-licensed appraisers, such reassessments are almost indisputable. Changes can only come about from, once again, a whole re-assessment. E.g., four local similar properties sold for $1,000,000 recently, however the contested property with $100K in wind damage now has a $900K true worth.

Larger tax specialty companies frequently use unequal appraisal statistics even if existing market values aren’t out of line. Locally they first group similar properties of relatively equal assessed value together. Then comes a matching of these real properties’ respective tax levy amounts within each group. Often a resulting tax assessed imbalances that’s 10% or more above the sampling’s median level will be reviewed. Clients are often charged a percentage applied to any tax reductions, so there’s no out-of-pocket cost nor any fee at all without reaping some savings.

Look for a tax professional that suits you in this directory containing the best property tax protest companies in Burleigh County ND.

State law gives several thousand local public entities the right to assess real estate taxes. Typically, the taxes are received under a single billing from the county. Collections are then disbursed to related taxing units as predetermined. Along with collections, real estate taxation encompasses two more standard steps which are creating property tax rates and directing appraisals.

Counties and cities plus thousands of special purpose districts possess taxing authority accorded by North Dakota law. All of them are public governing entities administered by elected or appointed officials. These entities, e.g. public schools and colleges, serve a specified territory, i.e. a county, township, school district, and others.

The state’s statutory rules and regulations have to be followed in the city’s administration of taxation. Taxation of real property must: [1] be equal and uniform, [2] be based on up-to-date market value, [3] have a single estimated value, and [4] be held taxable if it’s not specially exempted. Suitable notice of any rate hike is also a requisite.

Your city sets tax levies all within North Dakota regulatory directives. As we’ll explain later, appraising property, billing and taking in payments, undertaking compliance tasks, and resolving conflicts are all left to the county.

Burleigh County performs real estate appraisals for cities and special purpose public entities. Once again, North Dakota-enacted law sets regulations related to assessment methodologies. These rules are designed to support uniformity everywhere in the state. Here, possibly mismatched appraising methodologies and simple mistakes are often productive issues for challenges.

Usually, one of three appraisal ways (with many versions) is utilized to estimate real estate. A Sales Comparison is based on comparing average sale prices of equivalent real estate in the neighborhood. The Income Capitalization method predicts present market value based upon the property’s estimated income flow plus the property’s resale value. One Cost Approach variation postulates commercial real estate value would equal the present cost for a building replication while accounting for depreciation and land’s worth.

Usually every three years at a minimum a county assessor reviews and considers to reset property’s estimated market value. It’s taken times the set tax levy — the sum of all applicable governmental taxing-authorized units’ rates. Those entities include your city, Burleigh County, districts and special purpose units that make up that total tax rate.

Property taxes have customarily been local governments’ very own domain as a funding source. Together with the county, they rely on real property tax receipts to support their public services.

North Dakota communities depend on the real estate tax to fund public services. It usually accounts for the major piece of the general revenue fund in these municipalities. Not just for the county and cities, but down to special-purpose entities as well, like water treatment plants and recreational parks, with all dependent on the real property tax.

Especially school districts heavily depend on real estate taxes. Other big-ticket expenditures are local government worker salaries/benefits and public safety. Funding police and fire protection is another material need. Additional large duties are public transportation and street construction, followed by upkeep and rebuilding. Another expense is water and sanitation stations, as well as trash removal. Parklands, woodlands, playgrounds, and other recreation preserves are provided within the locality. With this and more, it’s no wonder why tax bills are often so hefty.