58790 Property Tax Rate

Property owners in ZIP code 58790 (Velva, North Dakota) pay a median of $2,077/year in property taxes on homes valued at $232,500. This translates to an effective tax rate of 0.89%, which is 7% above the North Dakota state average of 0.83%.

The monthly property tax burden for a median-valued home in 58790 is approximately $173, which factors into escrow payments on mortgages. This ZIP code is located within McHenry County. This is $715 more than the North Dakota average of $1,362/year.

Compared to similar ZIP codes in North Dakota, 58790 has higher property taxes. ZIP codes with similar effective rates include 58504 (0.89%) and 58460 (0.90%).

In Velva, property taxes represent approximately 2.5% of the median household income of $81,563, providing context for the relative tax burden on homeowners in this area.

North Dakota reassesses properties at market value upon sale, with no annual cap on increases for new owners. McHenry County offers a Homestead Property Tax Credit for primary residences — contact the McHenry County Assessor's office to determine your eligibility based on household income and file before the annual deadline. Submit your homestead application to the McHenry County Assessor within the first year of ownership to qualify for the credit.