Chinook, Montana Property Taxes
The median property tax rate in Chinook, MT is 1.39%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Chinook, the typical annual property tax bill reaches $1,940, exceeding the national median of $2,690. Property taxes in Chinook are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chinook'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 Chinook or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chinook, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,148
Ownwell’s Chinook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chinook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chinook 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 Chinook, Montana
Property taxes in Chinook, Montana, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Chinook is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chinook set these rates annually, and they can vary across different neighborhoods. Each year, Chinook 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 Chinook's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59523 has the highest median property tax rate of 1.39%, which is the same as the median rate in Chinook. Understanding how these areas compare with Chinook provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chinook Tax Rate
1.39%
Average Blaine County Tax Rate
1.39%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chinook, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59523 | 0.92% | 1.10% | 1.39% | 1.39% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Chinook, Montana
In Chinook, 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 Blaine County 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. Assessment notices in Chinook 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. For instance, in Chinook, the median home price is $154,550, and property tax bills can vary significantly, with the 25th percentile at $1,082 and the 75th percentile at $2,785. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest and lowest median tax bills in Chinook are both $1,940, found in the 59523 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chinook Assessed Value
$154,550
Average Blaine County Assessed Value
$134,724
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chinook, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59523 | $20,235 | $88,822 | $154,550 | $221,526 | $311,000 |
Source: Ownwell
Property Tax Bills Across Chinook, Montana
In Chinook, located in Blaine County, MT, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor's office and is a percentage of the property's market value. Various factors such as property size, location, and improvements can influence this assessed value. Homeowners in Chinook can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,082, while the 75th percentile reaches up to $2,785. At the 90th percentile, the tax bill can be as high as $3,718. These tax bills significantly impact homeowners, influencing their overall cost of living. For comparison, the national median property tax rate is 0.99%, making it essential for homeowners to understand their local tax obligations. Knowing these details helps homeowners in Chinook plan their finances more effectively and ensures they are prepared for their annual property tax responsibilities.
Average Chinook Tax Bill
$1,940
Average Blaine County Tax Bill
$1,761
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Chinook, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59523 | $276 | $1,082 | $1,940 | $2,785 | $3,718 |
Source: Ownwell