Miles City, Montana Property Taxes
The median property tax rate in Miles City, MT is 0.55%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Miles City, the typical annual property tax bill is $764, which is well 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 like 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
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$803
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 0.55%, which is lower 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 59301 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Miles City 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 Miles City Tax Rate
0.55%
Average Rosebud County Tax Rate
0.80%
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 | 0.51% | 0.52% | 0.55% | 0.59% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Miles City, Montana
In Miles City, 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 Miles City, 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 Miles City is $146,006, with the 25th percentile tax bill at $298 and the 75th percentile tax bill at $1,141. The highest and lowest median tax bills are both $764, found in zip code 59301. 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.
Average Miles City Assessed Value
$146,006
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 Miles City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59301 | $31,848 | $40,620 | $146,006 | $228,642 | $284,552 |
Source: Ownwell
Property Tax Bills Across Miles City, Montana
In Miles City, located in Rosebud County, MT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For instance, with a median home price of $146,006, the assessed value forms the basis for the tax calculation. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors like property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Miles City experience a range of tax bills, with the 25th percentile at $298 and the 75th percentile at $1,141. The 90th percentile tax bill reaches up to $1,597, reflecting higher-valued properties. Compared to the national median property tax rate of 0.99%, the tax obligations in Miles City can significantly impact household budgets, making it crucial for homeowners to understand their assessments and potential exemptions.
Average Miles City Tax Bill
$764
Average Rosebud County Tax Bill
$942
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 | $205 | $298 | $764 | $1,141 | $1,597 |
Source: Ownwell