The original item was published from 3/21/2022 11:18:00 AM to 3/21/2022 11:27:09 AM.

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Administration

Posted on: March 22, 2022

[ARCHIVED] Bismarck to notify property owners of real estate valuation increases

BISMARCK, N.D. – Bismarck property owners are seeing the value of their property increase based on recent comparative sales data. The median sale price of residential property in 2021 was $309,950, up from $264,900 the previous year. Economic growth and other factors have caused increased market values for properties. This is consistent with other major cities within the State of North Dakota and across the United States.

City of Bismarck’s Assessing Division will be mailing notices to certain property owners with a 2022 real estate valuation increase. The North Dakota Century Code requires that notices of increases are mailed to property owners with a property value increase of $3,000 and 10% or more of the prior year’s assessed value. The State Board of Equalization requires all property to be valued within 10% of prevailing market values. The primary reason for the notice of increase is the increased demand for property and volume of property sales in the City of Bismarck. Other reasons for the increase may include properties with a new structure, or structure addition in 2021, and situations involving expiration of an exemption.

Property owners who have questions are encouraged to contact the City of Bismarck Assessing Division at 701-355-1630 prior to April 6th with questions or to initiate a review of the property valuation. The review of the property valuation is preferred in advance of the April 6th Board of Equalization meeting. After Assessing Division’s review, property owners that want to appeal the valuation can do so to the City of Bismarck Board of Equalization on April 6 at 5:15 p.m. at Bismarck Public Works, 601 S 26th Street, in the large conference room.

If denied by the City of Bismarck’s Board of Equalization, citizens may also appeal their values with the Burleigh County Board of Equalization that meets in early June, 2022.

To learn more about valuations, please visit: https://www.bismarcknd.gov/418/Property-Assessment-Information. To request a reassessment of a property, please call 701-355-1630.