Vaughn, Montana Property Taxes
The median property tax rate in Vaughn, MT is 0.84%, slightly higher than the state median of 0.83% but lower than the national median of 0.99%. With a median home value of $377,374, the typical annual property tax bill in Vaughn reaches $3,379, surpassing the national median of $2,690. Property taxes in Vaughn 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 Vaughn'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 Vaughn or another part of Teton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vaughn, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$3,170
Ownwell’s Vaughn Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Vaughn with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vaughn to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more granular data, scroll down to explore trends on a neighborhood level. Your property’s assessed value is the figure assigned by Teton County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Vaughn, Montana
Property taxes in Vaughn, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vaughn is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Vaughn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vaughn 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 Vaughn's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59487 has both the highest and lowest median property tax rate of 0.84%, showing a consistent tax landscape within the region. Understanding how these areas compare with Vaughn provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vaughn Tax Rate
0.84%
Average Teton County Tax Rate
0.93%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vaughn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59487 | 0.74% | 0.76% | 0.84% | 0.96% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Vaughn, Montana
In Vaughn, 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 Teton 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. Assessment notices in Vaughn 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. Vaughn's median home price is $377,374, with tax bills ranging from $2,461 at the 25th percentile to $4,369 at the 90th percentile. The highest and lowest median tax bills are both $3,379 in zip code 59487. Being aware of these valuation processes in Vaughn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vaughn Assessed Value
$377,374
Average Teton County Assessed Value
$215,184
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vaughn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59487 | $210,790 | $242,050 | $377,374 | $500,152 | $508,829 |
Source: Ownwell
Property Tax Bills Across Vaughn, Montana
In Vaughn, located in Teton County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to generate the annual tax bill. The median home price in Vaughn is $377,374, and property tax bills can vary significantly within the area. For instance, the tax bill at the 25th percentile is $2,461, while at the 75th percentile, it reaches $4,094. At the 90th percentile, homeowners face a tax bill of $4,369. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Vaughn's tax rates can represent a significant financial consideration for homeowners. Understanding these variables is crucial for residents, as they directly impact annual financial planning and the overall cost of homeownership in the region.
Average Vaughn Tax Bill
$3,379
Average Teton County Tax Bill
$2,060
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Vaughn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59487 | $1,822 | $2,461 | $3,379 | $4,094 | $4,369 |
Source: Ownwell