Each year on February 1, the city evaluates properties' values. One main determinant of your property's value is its location. For example, properties closer to downtown Watford City are going to be assessed at a higher value.
Are you worried that your property's value and taxes are on the rise? According to Rita Olsen, city assessor, property owners whose values increased by more than 10% in the past year were notified by mail. However an increase in value doesn't necessarily mean an increase in taxes. From McKenzieCounty.net:
“Two months ago, I would have said we had a strong housing market. But houses are staying on the market a little bit longer. They’re still selling, but they’re staying on the market longer. I think next year at this time we’re going to be seeing a whole different picture. I think values will start going the other direction - they’ll start to come down a little. All of this, of course, is depending on what the oil and gas market is doing.”One alternative to worrying about increasing property values and paying property taxes is to rent property instead. The population boom has lent itself to a housing boom, including rental properties like The Glen at Hunter's Run. Our one, two and three bedroom apartments offer home options for singles and small families, along with a host of amenities. Pets are also permitted, with some restrictions. Invest the money you could be spending on property taxes to put towards your brand new apartment home instead! Contact our offices to set up a visit today!
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