Emigrant, Montana Property Taxes
The median property tax rate in Emigrant, MT is 0.44%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Emigrant at $433,511, the typical annual property tax bill is $1,928, which is below the national median of $2,690. Property taxes in Emigrant are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Emigrant'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 Emigrant or another part of Park County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Emigrant, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,907
Ownwell’s Emigrant Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Emigrant with just two data inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emigrant to estimate your property tax bill. This valuable tool provides insight into potential tax liabilities. For those interested in more granular details, neighborhood-level trends are available further down the page. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Emigrant, Montana
Property taxes in Emigrant, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emigrant is 0.44%, which is lower than the U.S. national median of 0.99%. Local government entities within Emigrant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emigrant 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 Emigrant's effective property tax rate to other counties in Montana and the national median. For comparison, the 59027 zip code has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Emigrant provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emigrant Tax Rate
0.44%
Average Park County Tax Rate
0.58%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emigrant, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59027 | 0.37% | 0.41% | 0.44% | 0.47% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Emigrant, Montana
In Emigrant, 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 Park 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 Emigrant, 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 instance, the median home price in Emigrant is $433,511, with property tax bills ranging from $998 at the 25th percentile to $4,367 at the 90th percentile. 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 Emigrant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Emigrant Assessed Value
$433,511
Average Park County Assessed Value
$424,710
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emigrant, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59027 | $22,360 | $190,116 | $433,511 | $698,750 | $1,016,296 |
Source: Ownwell
Property Tax Bills Across Emigrant, Montana
In Emigrant, located in Park 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 local tax assessor and typically represents a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the annual tax bill. For instance, with a median home price of $433,511, the tax bill can vary significantly. Homeowners in the 25th percentile might pay around $998, while those in the 75th percentile could see bills as high as $2,945. In some cases, tax bills can reach up to $4,367 for properties in the 90th percentile. These variations are influenced by factors such as property improvements, land value, and local government budgets. Compared to the national median property tax rate of 0.99%, the tax rates in Emigrant can have a notable impact on homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Emigrant Tax Bill
$1,928
Average Park County Tax Bill
$2,626
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Emigrant, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59027 | $125 | $998 | $1,928 | $2,945 | $4,367 |
Source: Ownwell