Capitol, Montana Property Taxes
The median property tax rate in CAPITOL, MT is 0.37%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in CAPITOL at $92,140, the typical annual property tax bill is $364, well below the national median of $2,690. Property taxes in CAPITOL are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding CAPITOL's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of CAPITOL or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Capitol, 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 CAPITOL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CAPITOL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CAPITOL 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 Capitol, Montana
Property taxes in CAPITOL, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CAPITOL is 0.37%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within CAPITOL set these rates annually, and they can vary significantly across different neighborhoods. Each year, CAPITOL 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 CAPITOL's effective property tax rate to other counties in Montana and the national median. For comparison, the highest median property tax rate in the region is 0.75%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with CAPITOL provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Capitol Tax Rate
0.37%
Average Carter County Tax Rate
0.41%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Capitol, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59319 | 0.32% | 0.34% | 0.37% | 0.39% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Capitol, Montana
In CAPITOL, 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 Carter 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 CAPITOL, 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 CAPITOL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 59319, with a median bill of $364.00.
Average Capitol Assessed Value
$92,140
Average Carter County Assessed Value
$74,600
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Capitol, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59319 | $40,344 | $59,626 | $92,140 | $177,297 | $441,051 |
Source: Ownwell
Property Tax Bills Across Capitol, Montana
Property tax bills in CAPITOL, Carter County, MT, are calculated based on the assessed value of a property, which is determined by the local tax assessor. The median home price in this city is $92,140. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. The tax rate in Carter County is notably below the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile tax bill in the area is $227, while the 75th percentile tax bill is $602, and the 90th percentile tax bill can reach up to $1,365. These property taxes contribute to local services such as schools, infrastructure, and emergency services, directly affecting homeowners by funding essential community resources. Comparing the highest and lowest median tax bills, both recorded at $364 in the zip code 59319, it is clear that the property taxes in CAPITOL are relatively stable within the region.
Average Capitol Tax Bill
$364
Average Carter County Tax Bill
$421
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Capitol, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59319 | $149 | $227 | $364 | $602 | $1,365 |
Source: Ownwell