Taxes

• Barnes County - rates range from 1.5% - 2% of the property's estimated market value.
• Valley City - rates range from 2% and 2.5% of the property’s estimated market value.

Tax Structure:
Taxable value of property in Valley City is $9,885,261
Taxable value of property in Barnes County is $38,851,658

Tax rate for taxes paid in 2007 (per $1,000 of taxable value)
City: $95.18             
State & County:$104.87
School: $224.70            
Park: $40.36
Total: $465.11

• State tax - 5%
• City tax - 2% limited to $50 per purchase.

No Inventory Taxes

No Personal Property Taxes

• No Sales Tax on Utilities (Electricity and Water)
• Natural gas is taxed at 2% (excise tax) of gross sales at the State level and is exempt from 2% city sales tax.

• No Taxes on the Receipts of Interstate Communication Sales
• Two-way intrastate communication sales - taxed at 5% at the State level and 1% City tax.

• Tax rates - 2.1%, 3.92%, 4.34%, 5.04% and 5.54% - correspond to five income tax brackets. The income ranges for each bracket vary depending on the taxpayer’s filing status (single, married filing jointly, head of household, qualifying widow or widower, and married filing separately). For tax years after 2001, the income brackets will be indexed for inflation.
• Individuals having a new long-term capital gain may subtract 30% of that gain from their federal taxable income before applying the tax rates.  The following items are also subtracted from federal taxable income before applying the tax rates:
• Interest from U.S. obligations,
• Other income exempted from state income tax by federal law, and
• Income from a partnership or other pass-through entity subject to the North Dakota's financial institution tax.

• Effective corporate income tax rate ranks in the middle of 45 states that impose a corporate income tax.
• Based on sales, payroll and property utilized.
• Ranges 3% - 10.5%.
• Effective tax rate ranges 2.6% - 7%.

• Effective July 1, 2007 rates assessed on $21,300 (70% of state’s average annual wage).
• Rate classifications and amounts are based on the type of work to be performed.
  • Computer/Electronics/Assembly: $1.64 per $100 of payroll
  • Professional/Business Representatives: $0.76 per $100 of payroll
  • Clerical Workers - 31 cents per $100 of payroll
  • Traveling Representatives - $0.90 per $100 of payroll
  • Manufacturing Light Metals - $3.40 per $100 of payroll
  • Welding - $7.27 per $100 of payroll
• "Out-of-State Experience Rating Program": Primary sector businesses can earn a 10% discount based on a positive experience-rate for similar operations in another jurisdiction.
• State's Risk Management Program: A 5% discount applies after the first year of participation in the Program.
• Maximum Premium Discount: 75% based on premium and positive claims history after 4 years.

• Taxable Base - $21,300 as of January 1, 2007
• New Employers (non-construction workers) - Rated at 1.5%
• Construction Workers - Rated at 8.09%