Miles City, Montana Property Taxes
The median property tax rate in Miles City, MT is 1.10%, notably higher than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $74,603, the typical annual property tax bill in Miles City is $821, which is below the national median of $2,690. Property taxes in Miles City are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Miles 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 Miles 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
Miles City, 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 Miles City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miles City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miles 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 Miles City, Montana
Property taxes in Miles 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 Miles City is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Miles City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miles 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 Miles City's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59301 has the highest median property tax rate of 1.10%, while also having the lowest median tax rate of 1.10%. Understanding how these areas compare with Miles City provides valuable insights into the varying tax landscape across Prairie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miles City Tax Rate
1.10%
Average Prairie County Tax Rate
1.05%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miles City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59301 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Miles City, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Miles City, 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 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. 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 Miles City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Miles City is $74,603, with the highest and lowest median tax bills both at $821 in the 59301 zip code.
Average Miles City Assessed Value
$74,603
Average Prairie County Assessed Value
$64,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miles City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59301 | $74,603 | $74,603 | $74,603 | $74,603 | $74,603 |
Source: Ownwell
Property Tax Bills Across Miles City, Montana
In Miles City, located in Prairie County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in this area, the median home price is $74,603. Tax rates are applied to the assessed value to determine the annual tax bill. In Miles City, the property tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $821. This uniformity indicates a stable tax rate within the region. When compared to the national median property tax rate of 0.99%, the tax rate in Miles City results in a relatively modest tax bill for homeowners. Understanding how these factors contribute to property tax bills can help homeowners anticipate their annual expenses and budget accordingly. The consistent tax bill also provides a predictable financial environment for property owners in this Montana city.
Average Miles City Tax Bill
$821
Average Prairie County Tax Bill
$652
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Miles City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59301 | $821 | $821 | $821 | $821 | $821 |
Source: Ownwell