Highwood, Montana Property Taxes
The median property tax rate in Highwood, MT is 0.99%, matching the national median but significantly higher than the Montana state median of 0.83%. With the median home value in Highwood at $168,557, the typical annual property tax bill reaches $1,830, which is below the national median of $2,690. Property taxes in Highwood are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Highwood'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 Highwood 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
Highwood, 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 Highwood Property Tax Bill Calculator enables homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Highwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highwood 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 Highwood, Montana
Property taxes in Highwood, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highwood is 0.99%, which aligns with both the Montana state median and the U.S. national median of 0.99%. Local government entities within Highwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highwood 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 Highwood's effective property tax rate to other counties in Montana and the national median. For comparison, the 59450 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Highwood provides valuable insights into the varying tax landscape across Chouteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highwood Tax Rate
0.99%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highwood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | 0.68% | 0.97% | 0.99% | 1.14% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Highwood, Montana
In Highwood, 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 local 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 Highwood, 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. The zip code 59450 has the highest and lowest median tax bill, both at $1,830. Being aware of these valuation processes in Highwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Highwood Assessed Value
$168,557
Average Chouteau County Assessed Value
$152,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Highwood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | $28,186 | $77,970 | $168,557 | $281,390 | $447,096 |
Source: Ownwell
Property Tax Bills Across Highwood, Montana
In Highwood, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Highwood is $168,557, this value is used as a reference point. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Highwood, the tax bill can vary significantly. For example, the 25th percentile tax bill is around $775, while the 75th percentile tax bill reaches up to $3,064. At the higher end, the 90th percentile can see tax bills as steep as $4,866. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life and community resources available to homeowners.
Average Highwood Tax Bill
$1,830
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Highwood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | $275 | $775 | $1,830 | $3,064 | $4,866 |
Source: Ownwell