True and Full Value X 50% = Assessed Value
Assessed Value X 9% for residential properties and 10% for all other properties = Taxable Value
Taxable Value X the current Mill Levy = Annual Tax
The following example uses a residential property valued at $100,000.
Assessor's True and Full Value | $100,000 |
Assessed Value (50% of True and Full Value) | $50,000 |
Taxable Value (Assessed Value X 9% residential tax rate) | $4,500 |
Annual Tax ( Taxable Value X the *Mill Levy) | $1,038 |
*Note: 2023 Mill Levy 0.23075 (230.75 divided by 1,000). The mill levy is subject to change annually.
For state forms, publications and calendar information, see https://www.tax.nd.gov