Property Tax Assessment Process
North Dakota law requires assessors to value, or appraise, property at true and full value as of February 1 of each year. This amount can also be referred to as market value. Basically, it is the value most people would likely pay for a given property in its present condition. Assessors apply mass appraisal techniques.
The assessor must notify property owners when their assessed value increases more than 10%.
The total amount of property tax to be paid citywide in any given year in Fargo is determined by the budgets set by our elected officials (city and county commissioners, school and park board members, etc.). Once the budgets for each political subdivision are set, the amount needed from property taxes is divided by the total taxable value to determine the mill levy.
Each property's share of the property tax is based on the assessor's value. Although the work of the assessor doesn't determine the total amount of taxes paid, it does affect the uniform distribution of the property tax burden.
As part of the assessment process, the assessor also maintains land ownership records. In our case, we are the resource for all legal description and ownership information for all parcels of ground in Fargo.