Square Butte, Montana Property Taxes
The median property tax rate in Square Butte, MT is 0.58%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Square Butte at $19,015, the typical annual property tax bill is $144, considerably below the national median of $2,690. Property taxes in Square Butte 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 Square Butte'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 Square Butte 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
Square Butte, 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 SQUARE BUTTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SQUARE BUTTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SQUARE BUTTE 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 Square Butte, Montana
Property taxes in Square Butte, Montana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Square Butte is 0.58%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Square Butte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Square Butte 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 Square Butte's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59446 has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Square Butte 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 Square Butte Tax Rate
0.58%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Square Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59446 | 0.57% | 0.57% | 0.58% | 0.65% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Square Butte, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Square Butte, Montana. 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 Chouteau 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 Square Butte, 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. For instance, the zip code 59446 has the highest median tax bill of $144. By being aware of these valuation processes, residents can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Square Butte Assessed Value
$19,015
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 Square Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59446 | $6,991 | $7,785 | $19,015 | $32,945 | $60,330 |
Source: Ownwell
Property Tax Bills Across Square Butte, Montana
Property tax bills in Square Butte, located in Chouteau County, MT, are calculated based on the assessed value of a property. The tax bill is determined by multiplying the assessed value by the local property tax rate, which is specific to the area. Various factors such as property location, size, and improvements are considered during the assessment process. For example, homes in Square Butte have a median home price of $19,015. Property tax bills can vary significantly, with the 25th percentile at $53 and the 75th percentile at $315, indicating a range in tax obligations among homeowners. The tax bill at the 90th percentile reaches $389. These figures highlight how property tax rates can affect homeowners differently depending on their property’s assessed value. Compared to the national median property tax rate of 0.99%, the property tax situation in Square Butte provides a unique perspective on local property tax burdens, emphasizing the importance of understanding how local assessments and rates impact overall tax responsibilities.
Average Square Butte Tax Bill
$144
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Square Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59446 | $40 | $53 | $144 | $315 | $389 |
Source: Ownwell