Richland, Montana Property Taxes
The median property tax rate in Richland, MT is 0.96%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Richland at $90,915, the typical annual property tax bill is $870, which is significantly below the national median of $2,690. Property taxes in Richland are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Richland'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 Richland 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
Richland, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$873
Ownwell’s Richland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richland to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, assigned by the county for tax calculations, takes into account any applicable exemptions, ensuring you get a precise estimate tailored to your situation.
Property Tax Rates Across Richland, Montana
Property taxes in Richland, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland is 0.76%, which is significantly lower than both the Montana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Richland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richland 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 Richland's effective property tax rate to other counties in Montana and the national median. For comparison, the 59270 zip code has the highest median property tax rate of 0.76%, while the 59270 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Richland provides valuable insights into the varying tax landscape across Daniels County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richland Tax Rate
0.96%
Average Daniels County Tax Rate
1.24%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richland, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59260 | 0.96% | 0.96% | 0.96% | 0.96% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Richland, Montana
In Richland, 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 Daniels 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 Richland, 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 median home price in Richland is $90,915, with tax bills ranging from $501 at the 25th percentile to $1,214 at the 75th percentile. The zip code with the highest and lowest median tax bill is 59260, both at $870. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Richland Assessed Value
$90,915
Average Daniels County Assessed Value
$84,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richland, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59260 | $38,370 | $52,385 | $90,915 | $126,865 | $179,676 |
Source: Ownwell
Property Tax Bills Across Richland, Montana
In Richland, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to calculate your annual property tax bill. Several factors influence your tax bill, including the median home price in the area and local government budgets. For instance, the median home price in Richland is $90,915. Homeowners in the 25th percentile of tax bills pay around $501 annually, while those in the 75th percentile pay approximately $1,214, and the 90th percentile sees bills as high as $1,801. These property taxes significantly impact homeowners by funding essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Richland's rates can vary widely, affecting how much homeowners contribute to local services and amenities.
Average Richland Tax Bill
$870
Average Daniels County Tax Bill
$1,006
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Richland, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59260 | $367 | $501 | $870 | $1,214 | $1,801 |
Source: Ownwell