Pompeys Pillar, Montana Property Taxes
The median property tax rate in Pompeys Pillar, MT is 1.04%, slightly higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Pompeys Pillar at $113,558, the typical annual property tax bill reaches $2,350, which is below the national median of $2,690. Property taxes in Pompeys Pillar are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pompeys Pillar's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pompeys Pillar or another part of Big Horn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pompeys Pillar, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Pompeys Pillar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pompeys Pillar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pompeys Pillar to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pompeys Pillar, Montana
Property taxes in Pompeys Pillar, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pompeys Pillar is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Pompeys Pillar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pompeys Pillar estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Pompeys Pillar's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59064 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these figures compare with Pompeys Pillar provides valuable insights into the varying tax landscape across Big Horn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pompeys Pillar Tax Rate
1.04%
Average Big Horn County Tax Rate
1.09%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pompeys Pillar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59064 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Pompeys Pillar, Montana
In Pompeys Pillar, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Big Horn County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Pompeys Pillar, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Pompeys Pillar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pompeys Pillar is $113,558, with both the highest and lowest median tax bills being $2,350 in the 59064 zip code.
Average Pompeys Pillar Assessed Value
$113,558
Average Big Horn County Assessed Value
$96,282
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pompeys Pillar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59064 | $24,496 | $57,894 | $113,558 | $169,222 | $202,620 |
Source: Ownwell
Property Tax Bills Across Pompeys Pillar, Montana
In Pompeys Pillar, located in Big Horn County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. For a median home price of $113,558, the tax bill can be quite significant. The median property tax rate in this area is around 2.07%, which is higher than the national median property tax rate of 0.99%. This means homeowners in Pompeys Pillar pay more in property taxes compared to the national average. The tax bill can be influenced by several factors, including property location, market conditions, and any applicable exemptions or deductions. Homeowners in Pompeys Pillar typically see tax bills around $2,350, which remains consistent across various percentiles. This higher tax rate can impact homeowners by increasing their annual expenses, making it essential for them to budget accordingly. Understanding how these taxes are calculated and what factors influence them can help homeowners better manage their financial planning.
Average Pompeys Pillar Tax Bill
$2,350
Average Big Horn County Tax Bill
$1,275
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Pompeys Pillar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59064 | $2,350 | $2,350 | $2,350 | $2,350 | $2,350 |
Source: Ownwell