Bighorn, Montana Property Taxes
The median property tax rate in Bighorn, MT is 0.70%, notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Bighorn at $201,245, the typical annual property tax bill reaches $1,414, which is significantly below the national median of $2,690. Property taxes in Bighorn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bighorn'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 Bighorn 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
Bighorn, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,409
Ownwell’s Bighorn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bighorn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bighorn 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 Bighorn, Montana
Property taxes in Bighorn, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bighorn is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Bighorn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bighorn 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 Bighorn's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59010 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Bighorn provides valuable insights into the varying tax landscape across Treasure County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bighorn Tax Rate
0.70%
Average Treasure County Tax Rate
0.88%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bighorn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59010 | 0.67% | 0.69% | 0.70% | 0.73% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Bighorn, Montana
In Bighorn, 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 Treasure 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 Bighorn, 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 Bighorn stands at $201,245, with tax bills ranging from $1,058 at the 25th percentile to $2,750 at the 90th percentile. The zip code 59010 has both the highest and lowest median tax bill, recorded at $1,414. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bighorn Assessed Value
$201,245
Average Treasure County Assessed Value
$87,679
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bighorn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59010 | $134,751 | $150,264 | $201,245 | $324,138 | $392,229 |
Source: Ownwell
Property Tax Bills Across Bighorn, Montana
In Bighorn, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value typically reflects a percentage of the property's market value. For homeowners in Bighorn, the median home price is $201,245. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including local government budgets, school funding needs, and public service requirements. Homeowners in Bighorn can expect their tax bills to vary significantly. The tax bill at the 25th percentile is $1,058, while the 75th percentile sees a tax bill of $2,215. At the 90th percentile, homeowners might pay up to $2,750. These figures indicate a range of property tax burdens within the city. Compared to the national median property tax rate of 0.99%, Bighorn's property tax rates reflect the local economic conditions and funding necessities. This variability in tax bills can significantly affect homeowners' annual expenses and overall financial planning.
Average Bighorn Tax Bill
$1,414
Average Treasure County Tax Bill
$921
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Bighorn, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59010 | $937 | $1,058 | $1,414 | $2,215 | $2,750 |
Source: Ownwell