Opheim, Montana Property Taxes
The median property tax rate in Opheim, MT is 0.96%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $45,330 in Opheim, the typical annual property tax bill amounts to $481, which is significantly lower than the national median of $2,690. Property taxes in Opheim are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Opheim'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 Opheim or another part of Valley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Opheim, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$435
Ownwell’s Opheim Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Opheim with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Opheim 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 Opheim, Montana
Property taxes in Opheim, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Opheim is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Opheim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Opheim 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 Opheim's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59250 has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Opheim provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Opheim Tax Rate
0.96%
Average Valley County Tax Rate
1.31%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Opheim, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59250 | 0.80% | 0.90% | 0.96% | 1.21% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Opheim, Montana
In Opheim, 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 Valley 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 Opheim, 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 Opheim is $45,330, with tax bills ranging from $149 at the 25th percentile to $2,912 at the 90th percentile. The highest and lowest median tax bills are both $481 in zip code 59250. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Opheim Assessed Value
$45,330
Average Valley County Assessed Value
$101,800
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Opheim, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59250 | $4,445 | $12,008 | $45,330 | $164,048 | $331,527 |
Source: Ownwell
Property Tax Bills Across Opheim, Montana
In Opheim, located in Valley County, MT, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The median home price in Opheim is $45,330, which serves as a baseline for calculating tax bills. The tax rate is applied to this assessed value to determine the annual property tax owed. Factors such as the property's location, size, and any applicable exemptions can influence the final tax bill. For homeowners, this means their tax bills can vary significantly. For instance, the 25th percentile tax bill is $149, while the 75th percentile tax bill rises to $1,489. At the 90th percentile, homeowners could see tax bills as high as $2,912. The highest median tax bill in the area is $481, which is consistent across the zip code 59250. Compared to the national median property tax rate of 0.99%, the property taxes in Opheim reflect the specific economic and market conditions of the region, impacting homeowners' annual financial planning.
Average Opheim Tax Bill
$481
Average Valley County Tax Bill
$1,277
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Opheim, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59250 | $44 | $149 | $481 | $1,489 | $2,912 |
Source: Ownwell