Essex, Montana Property Taxes
The median property tax rate in Essex, MT is 0.55%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Essex, the typical annual property tax bill reaches $1,584, significantly below the national median of $2,690. Property taxes in Essex are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Essex'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 Essex 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
Essex, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,568
Ownwell’s Essex Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Essex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Essex to provide an accurate estimate of your property tax bill. This insightful tool aids in understanding potential tax liabilities, ensuring you can make informed financial decisions. For those curious about trends at a neighborhood level, more localized information is available as you scroll down. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Essex, Montana
Property taxes in Essex, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Essex is 0.55%, which is significantly lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Essex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Essex 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 Essex's effective property tax rate to other counties in Montana and the national median. For comparison, the 59916 zip code has both the highest and the lowest median property tax rate of 0.55%. Understanding how these cities compare with Essex provides valuable insights into the varying tax landscape across Flathead, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Essex Tax Rate
0.55%
Average Flathead County Tax Rate
0.75%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Essex, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59916 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Essex, Montana
In Essex, 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 Essex, 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 Essex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,584 in zip code 59916, while the lowest is also $1,584 in the same zip code.
Average Essex Assessed Value
$285,000
Average Flathead County Assessed Value
$447,500
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Essex, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59916 | $86,010 | $168,900 | $285,000 | $396,100 | $595,765 |
Source: Ownwell
Property Tax Bills Across Essex, Montana
In Essex, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Essex is $285,000. Property taxes are influenced by various factors, including the assessed value, local tax rates, and any applicable exemptions or deductions. For example, homeowners in the 25th percentile can expect a tax bill around $969, while those in the 75th percentile might see a bill closer to $2,225. At the higher end, in the 90th percentile, the tax bill can reach up to $3,294. Comparatively, the national median property tax rate is 0.99%, making Essex's property tax rates competitive within the broader context. These tax bills are crucial for homeowners as they contribute to local services such as schools, public safety, and infrastructure. Understanding how property taxes are calculated helps homeowners budget effectively and take advantage of any potential tax relief programs.
Average Essex Tax Bill
$1,584
Average Flathead County Tax Bill
$3,622
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Essex, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59916 | $622 | $969 | $1,584 | $2,225 | $3,294 |
Source: Ownwell