Reed Point, Montana Property Taxes
The median property tax rate in Reed Point, MT is 0.73%, notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Reed Point at $232,738, the typical annual property tax bill amounts to $1,853, which is below the national median of $2,690. Property taxes in Reed Point are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Reed Point'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 Reed Point or another part of Stillwater County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reed Point, 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 Reed Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reed Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reed Point 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 Reed Point, Montana
Property taxes in Reed Point, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reed Point is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Reed Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reed Point 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 Reed Point's effective property tax rate to other counties in Montana and the national median. For comparison, the 59069 zip code has the highest median property tax rate of 0.73%, while the 59069 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Reed Point provides valuable insights into the varying tax landscape across Stillwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reed Point Tax Rate
0.73%
Average Stillwater County Tax Rate
0.69%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | 0.59% | 0.69% | 0.73% | 0.79% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Reed Point, Montana
In Reed Point, 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 Stillwater 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 Reed Point, 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 Reed Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,853 in the 59069 zip code, which also has the lowest median tax bill at $1,853.
Average Reed Point Assessed Value
$232,738
Average Stillwater County Assessed Value
$299,005
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | $23,425 | $88,757 | $232,738 | $387,844 | $605,700 |
Source: Ownwell
Property Tax Bills Across Reed Point, Montana
In Reed Point, located in Stillwater County, MT, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value and applies an assessment ratio. This ratio can vary, affecting the final assessed value on which the tax is levied. Homeowners in Reed Point experience a range of property tax bills. For instance, tax bills at the 25th percentile are around $748, while those at the 75th percentile reach up to $2,888. At the 90th percentile, tax bills can soar to $4,260, indicating a significant variation based on property values and other factors. Comparatively, the national median property tax rate is 0.99%, which helps put Reed Point's tax bills into perspective. These taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Reed Point Tax Bill
$1,853
Average Stillwater County Tax Bill
$2,154
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | $267 | $748 | $1,853 | $2,888 | $4,260 |
Source: Ownwell