Galata, Montana Property Taxes
The median property tax rate in Galata, MT is 0.82%, slightly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Galata at $156,934, the typical annual property tax bill is $1,466, which is below the national median of $2,690. Property taxes in Galata are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Galata'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 Galata or another part of Toole County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Galata, 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 Galata Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galata with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galata 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 Galata, Montana
Property taxes in Galata, Montana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Galata is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Galata set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galata 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 Galata's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59444 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Galata provides valuable insights into the varying tax landscape across Toole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galata Tax Rate
0.82%
Average Toole County Tax Rate
1.23%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galata, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59444 | 0.76% | 0.77% | 0.82% | 0.88% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Galata, Montana
In Galata, 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 Toole 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 Galata, 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 Galata helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Toole County are both $1,466, found in the 59444 zip code.
Average Galata Assessed Value
$156,934
Average Toole County Assessed Value
$109,500
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galata, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59444 | $15,010 | $62,710 | $156,934 | $321,122 | $460,726 |
Source: Ownwell
Property Tax Bills Across Galata, Montana
In Galata, located in Toole County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $156,934. The assessed value is determined by local assessors, who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Galata can expect a wide range of tax bills. At the 25th percentile, the tax bill is around $464, while at the 75th percentile, it rises to $2,855. For those at the 90th percentile, it can reach as high as $4,249. These figures show a significant variation in tax bills, reflecting differences in property values and possible exemptions or deductions. Compared to the national median property tax rate of 0.99%, Galata's property tax rates can be quite variable. This variability affects homeowners by influencing their annual financial planning and the overall affordability of homeownership in the area.
Average Galata Tax Bill
$1,466
Average Toole County Tax Bill
$1,320
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Galata, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59444 | $115 | $464 | $1,466 | $2,855 | $4,249 |
Source: Ownwell