Box Elder, Montana Property Taxes
The median property tax rate in Box Elder, MT is 1.02%, slightly higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Box Elder, the typical annual property tax bill reaches $920, which is below the national median of $2,690. Property taxes in Box Elder 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 Box Elder'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 Box Elder 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
Box Elder, 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 Box Elder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Box Elder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Box Elder 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 Box Elder, Montana
Property taxes in Box Elder, Montana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Box Elder is 0.82%, which is lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Box Elder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Box Elder 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 Box Elder's effective property tax rate to other counties in Montana and the national median. For comparison, the 59521 zip code has the highest median property tax rate of 0.82%, while the 59521 zip code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Box Elder provides valuable insights into the varying tax landscape across Hill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Box Elder Tax Rate
1.02%
Average Hill County Tax Rate
1.13%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Box Elder, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59521 | 0.82% | 0.91% | 1.02% | 1.28% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Box Elder, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Box Elder, 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 Hill County Assessor 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 Box Elder, 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. For example, the median home price in Box Elder is $82,600, with property tax bills ranging significantly. The 25th percentile tax bill is $248, while the 75th percentile reaches $2,342, and the 90th percentile goes up to $3,767. The highest and lowest median tax bills recorded are both $920 in the 59521 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Box Elder Assessed Value
$82,600
Average Hill County Assessed Value
$169,254
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Box Elder, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59521 | $9,934 | $26,520 | $82,600 | $202,532 | $364,128 |
Source: Ownwell
Property Tax Bills Across Box Elder, Montana
In Box Elder, located in Hill 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 typically reflects a percentage of the property's market value. For instance, with a median home price of $82,600, the assessed value plays a crucial role in determining the final tax bill. The tax rate, applied to the assessed value, dictates the amount homeowners owe. In Hill County, tax bills can vary significantly. The 25th percentile tax bill is around $248, while the 75th percentile reaches up to $2,342, and the 90th percentile can be as high as $3,767. These figures illustrate the range of potential tax obligations. For homeowners, understanding these factors is essential for financial planning. The local tax rate and the assessed value of their property directly influence their annual tax bill, impacting their overall cost of homeownership. Compared to the national median property tax rate of 0.99%, homeowners in Box Elder need to be aware of these local variations.
Average Box Elder Tax Bill
$920
Average Hill County Tax Bill
$1,886
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Box Elder, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59521 | $117 | $248 | $920 | $2,342 | $3,767 |
Source: Ownwell