What types of property are subject to property taxes?

In North Dakota, property taxes are imposed on many different types of property. These include real property, which includes land and buildings; personal property, which includes furniture, machinery, and inventory; business or commercial property; and agricultural property. Real property includes residential, commercial, industrial, and institutional properties. Tax assessors typically determine the value of each property based on its age, condition, and location. This value is then used to calculate the amount of tax due. Personal property includes items such as furniture, fixtures, inventory, and machinery. Business or commercial property includes factories, warehouses, and offices that are used to conduct business. Tax assessors might determine the value of such property using the market-value approach, which takes into account recent sales of similar properties. Agricultural property includes farms, ranches, cropland, livestock, and timber. Tax assessors use similar methods to those used for commercial and residential properties to determine the value of agricultural land. In addition, the North Dakota Department of Taxation assesses taxes on tangible personal property, such as motor vehicles, boats, and recreational vehicles. The assessed value of these items is typically determined using depreciation schedules that account for age and usage. Overall, the types of property subject to property tax in North Dakota vary greatly. They include real, personal, business, agricultural, and tangible personal property.

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What types of property are subject to property taxes?

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