Ingomar, Montana Property Taxes
The median property tax rate in Ingomar, MT is 0.65%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $33,038 in Ingomar, the typical annual property tax bill is $325, significantly below the national median of $2,690. Property taxes in Ingomar are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ingomar’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 Ingomar 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
Ingomar, 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 Ingomar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ingomar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ingomar 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 Ingomar, Montana
Property taxes in Ingomar, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ingomar is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ingomar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ingomar 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 Ingomar's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59039 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Ingomar provides valuable insights into the varying tax landscape across Rosebud County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ingomar Tax Rate
0.65%
Average Rosebud County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ingomar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59039 | 0.56% | 0.59% | 0.65% | 0.77% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Ingomar, Montana
In Ingomar, 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 Rosebud 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 Ingomar, 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 Ingomar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $33,038, with tax bills ranging from $126 at the 25th percentile to $1,968 at the 90th percentile. The zip code with the highest and lowest median tax bill is 59039, both at $325.
Average Ingomar Assessed Value
$33,038
Average Rosebud County Assessed Value
$88,000
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ingomar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59039 | $2,274 | $7,333 | $33,038 | $96,857 | $265,690 |
Source: Ownwell
Property Tax Bills Across Ingomar, Montana
Property tax bills in Ingomar, located in Rosebud County, MT, are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects a percentage of the market value of the property. For instance, with a median home price of $33,038, the assessed value is used to compute the tax liability. Various factors influence the tax bill, including property size, location, and any improvements made to the property. Homeowners in Ingomar experience a range of tax bills. At the 25th percentile, the tax bill is approximately $126, while at the 75th percentile, it rises to $749. The top 10% of tax bills reach up to $1,968. Compared to the national median property tax rate of 0.99%, the tax rates in Ingomar can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Ingomar Tax Bill
$325
Average Rosebud County Tax Bill
$942
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ingomar, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59039 | $17 | $126 | $325 | $749 | $1,968 |
Source: Ownwell