RESIDENTIAL PROPERTY TAX FORMULA

1.      TRUE & FULL VALUE X 50% = ASSESSED VALUE

2.       ASSESSED VALUE X 9% = TAXABLE VALUE

3.       TAXABLE VALUE X MILL RATE (IF MILL RATE IS 114.09, MOVE THE DECIMAL TO THE FRONT.  X .11409) = ESTIMATED TAXES

AG, COMMERCIAL, & ALL OTHER PROPERTY TAX FORMULA

1.      TRUE & FULL VALUE X 50% = ASSESSED VALUE

2.       ASSESSED VALUE X 10% = TAXABLE VALUE

3.       TAXABLE VALUE X MILL RATE (IF MILL RATE IS 114.09, MOVE THE DECIMAL TO THE FRONT.  X .11409) = ESTIMATED TAXES

$100,000 T&F x 50% = $50,000 Assessed Value

$50,000 x 9% = $4500 Taxable Value

$4500 x .11409 = $513.40 Estimated Taxes

      * Mill rate varies by jurisdiction.  To ensure you have the correct mill rate, you will need a parcel number or legal description.  To look up a previous year mill rate, visit www.ndpropertytax.com and search by legal description or parcel number.