Martin City, Montana Property Taxes
The median property tax rate in Martin City, MT is 0.81%, slightly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Martin City at $293,900, the typical annual property tax bill reaches $2,703, just under the national median of $2,690. Property taxes in Martin City 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 Martin City'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 Martin City 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
Martin City, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,381
Ownwell’s Martin City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martin City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martin City 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 Martin City, Montana
Property taxes in Martin City, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martin City is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Martin City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martin City 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 Martin City's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59926 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Martin City provides valuable insights into the varying tax landscape across Flathead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martin City Tax Rate
0.81%
Average Flathead County Tax Rate
0.75%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martin City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59926 | 0.79% | 0.81% | 0.81% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Martin City, Montana
In Martin City, 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 Flathead 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 Martin City, 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 Martin City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Martin City is $2,703, with the same value for both the highest and lowest median tax bills in the zip code 59926.
Average Martin City Assessed Value
$293,900
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 Martin City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59926 | $12,953 | $133,768 | $293,900 | $482,370 | $816,440 |
Source: Ownwell
Property Tax Bills Across Martin City, Montana
In Martin City, located in Flathead County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Martin City, the median home price is $293,900. The local property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, tax bills can vary significantly, with the 25th percentile at $1,686 and the 75th percentile at $4,623. At the higher end, the 90th percentile reaches up to $7,185 annually. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, the specific rate in Martin City can lead to varying financial impacts on homeowners, influencing their overall cost of living and property investment decisions.
Average Martin City Tax Bill
$2,703
Average Flathead County Tax Bill
$3,622
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Martin City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59926 | $288 | $1,686 | $2,703 | $4,623 | $7,185 |
Source: Ownwell