Ovando, Montana Property Taxes
The median property tax rate in Ovando, MT is 0.65%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Ovando at $298,602, the typical annual property tax bill amounts to $2,053, falling below the national median of $2,690. Property taxes in Ovando are calculated based on the tax assessed value, which often is less than the market value due to exemptions like those for primary residences and agricultural use. Understanding Ovando'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 Ovando or elsewhere in Powell County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ovando, 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 Ovando Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ovando with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ovando 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 Ovando, Montana
Property taxes in Ovando, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ovando is 0.65%, 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 Ovando set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ovando 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 Ovando's effective property tax rate to other counties in Montana and the national median. For comparison, the 59854 zip code has the highest median property tax rate of 0.65%, while it also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Ovando provides valuable insights into the varying tax landscape across Powell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ovando Tax Rate
0.65%
Average Powell County Tax Rate
0.75%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ovando, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59854 | 0.57% | 0.64% | 0.65% | 0.66% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Ovando, Montana
In Ovando, 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 Powell 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 Ovando, 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 Ovando helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ovando are both $2,053, found in the zip code 59854.
Average Ovando Assessed Value
$298,602
Average Powell County Assessed Value
$190,600
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ovando, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59854 | $68,603 | $166,000 | $298,602 | $571,700 | $998,215 |
Source: Ownwell
Property Tax Bills Across Ovando, Montana
In Ovando, Powell County, MT, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors who evaluate the market value of your property. This assessed value is then multiplied by the county’s tax rate to determine your tax bill. For example, with a median home price of $298,602, property owners in Ovando can expect varying tax bills. The 25th percentile tax bill is around $1,169, while the 75th percentile tax bill can reach up to $3,767. At the 90th percentile, homeowners might see tax bills as high as $6,546. These figures are influenced by factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, the tax bills in Ovando reflect the local economic landscape and property values. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses.
Average Ovando Tax Bill
$2,053
Average Powell County Tax Bill
$1,529
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ovando, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59854 | $541 | $1,169 | $2,053 | $3,767 | $6,546 |
Source: Ownwell