Ramsay, Montana Property Taxes
The median property tax rate in Ramsay, MT is 0.73%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Ramsay at $258,057, the typical annual property tax bill is $1,859, significantly below the national median of $2,690. Property taxes in Ramsay are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ramsay's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ramsay or another part of Silver Bow County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramsay, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,884
Ownwell’s Ramsay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramsay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramsay 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 Ramsay, Montana
Property taxes in Ramsay, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramsay is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Ramsay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramsay 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 Ramsay's effective property tax rate to other regions in Montana and the national median. For comparison, the zip code 59748 has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Ramsay provides valuable insights into the varying tax landscape across Silver Bow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ramsay Tax Rate
0.73%
Average Silver Bow County Tax Rate
1.08%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramsay, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59748 | 0.63% | 0.69% | 0.73% | 0.76% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Ramsay, Montana
In Ramsay, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Silver Bow 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 Ramsay, 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 Ramsay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ramsay is $258,057, with tax bills ranging from $1,311 at the 25th percentile to $3,842 at the 90th percentile. The zip code 59748 has the highest and lowest median tax bill at $1,859.
Average Ramsay Assessed Value
$258,057
Average Silver Bow County Assessed Value
$209,800
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ramsay, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59748 | $146,988 | $188,053 | $258,057 | $388,981 | $545,075 |
Source: Ownwell
Property Tax Bills Across Ramsay, Montana
In Ramsay, located in Silver Bow County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. Homeowners in Ramsay face a median property tax bill of $1,859, which is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, properties in the 25th percentile have tax bills around $1,311, while those in the 75th percentile see bills closer to $2,770. At the higher end, the 90th percentile tax bill reaches approximately $3,842. These tax bills significantly impact homeowners, affecting their annual financial planning and long-term investment in their properties. Understanding how these factors interplay helps residents anticipate and manage their property tax obligations effectively.
Average Ramsay Tax Bill
$1,859
Average Silver Bow County Tax Bill
$2,299
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramsay, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59748 | $775 | $1,311 | $1,859 | $2,770 | $3,842 |
Source: Ownwell