Belfry, Montana Property Taxes
The median property tax rate in Belfry, MT is 0.51%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Belfry at $168,838, the typical annual property tax bill is $876, which is well below the national median of $2,690. Property taxes in Belfry 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 Belfry'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 Belfry or another part of Carbon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belfry, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$861
Ownwell’s Belfry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belfry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belfry 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 Belfry, Montana
Property taxes in Belfry, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belfry is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Belfry set these rates annually, and they can vary across different neighborhoods. Each year, Belfry 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 Belfry's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59008 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Belfry provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belfry Tax Rate
0.51%
Average Carbon County Tax Rate
0.61%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belfry, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59008 | 0.49% | 0.50% | 0.51% | 0.53% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Belfry, Montana
In Belfry, 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 Carbon 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 Belfry, 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 Belfry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Belfry is $168,838, with tax bills ranging from $465 at the 25th percentile to $2,567 at the 90th percentile. The zip code 59008 has both the highest and lowest median tax bill at $876.
Average Belfry Assessed Value
$168,838
Average Carbon County Assessed Value
$299,384
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belfry, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59008 | $21,922 | $87,137 | $168,838 | $315,125 | $510,031 |
Source: Ownwell
Property Tax Bills Across Belfry, Montana
In Belfry, located in Carbon County, MT, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home. For example, with the median home price at $168,838, the tax bill can vary significantly within the city. Homeowners in the 25th percentile pay around $465, while those in the 75th percentile face a tax bill of approximately $1,700. At the 90th percentile, the tax bill can reach up to $2,567. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Belfry can result in a diverse range of tax obligations for homeowners. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and the overall affordability of owning property in the area.
Average Belfry Tax Bill
$876
Average Carbon County Tax Bill
$2,004
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Belfry, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59008 | $161 | $465 | $876 | $1,700 | $2,567 |
Source: Ownwell