Martinsdale, Montana Property Taxes
The median property tax rate in Martinsdale, MT is 0.77%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Martinsdale at $137,300, the typical annual property tax bill amounts to $1,038, significantly below the national median of $2,690. Property taxes in Martinsdale are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Martinsdale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Martinsdale 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
Martinsdale, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,057
Ownwell’s Martinsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martinsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martinsdale 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 Meagher County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Martinsdale, Montana
Property taxes in Martinsdale, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martinsdale is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Martinsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martinsdale 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 Martinsdale's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59053 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Martinsdale provides valuable insights into the varying tax landscape across Meagher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martinsdale Tax Rate
0.77%
Average Meagher County Tax Rate
0.79%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59053 | 0.66% | 0.67% | 0.77% | 0.83% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Martinsdale, Montana
In Martinsdale, 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 Martinsdale, 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. The median home price in Martinsdale is $137,300, with tax bills ranging from $566 at the 25th percentile to $2,459 at the 90th percentile. The highest and lowest median tax bills both stand at $1,038 in the 59053 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Martinsdale Assessed Value
$137,300
Average Meagher County Assessed Value
$188,100
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59053 | $42,625 | $69,100 | $137,300 | $206,725 | $349,365 |
Source: Ownwell
Property Tax Bills Across Martinsdale, Montana
In Martinsdale, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the property tax bill. For example, the median home price in Martinsdale is $137,300. Property tax bills can vary significantly, with the 25th percentile at $566 and the 75th percentile at $1,626, indicating a range of tax burdens among homeowners. The 90th percentile tax bill is $2,459, which shows that higher-valued properties face steeper taxes. Factors influencing these variations include the assessed value of the property and any applicable exemptions. The median property tax bill in Martinsdale, which is $1,038, is slightly above the national median rate of 0.99%. This means that homeowners in Martinsdale may experience a higher tax burden compared to the national average, impacting their overall housing costs and financial planning.
Average Martinsdale Tax Bill
$1,038
Average Meagher County Tax Bill
$1,532
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Martinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59053 | $324 | $566 | $1,038 | $1,626 | $2,459 |
Source: Ownwell