Shawmut, Montana Property Taxes
The median property tax rate in Shawmut, MT is 0.60%, which is significantly lower than both the national median of 0.99% and Montana's state median of 0.83%. With a median home value of $56,311 in Shawmut, the typical annual property tax bill is $383, far below the national median of $2,690. Property taxes in Shawmut are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Shawmut'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 Shawmut or another part of Wheatland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shawmut, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$338
Ownwell’s Shawmut Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shawmut with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shawmut 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 Wheatland County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shawmut, Montana
Property taxes in Shawmut, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shawmut is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Shawmut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shawmut 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 Shawmut's effective property tax rate to other counties in Montana and the national median. For comparison, the 59078 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Shawmut provides valuable insights into the varying tax landscape across Wheatland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shawmut Tax Rate
0.60%
Average Wheatland County Tax Rate
0.77%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | 0.60% | 0.60% | 0.60% | 0.63% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Shawmut, Montana
In Shawmut, 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 Wheatland 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 Shawmut, 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 Shawmut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Shawmut is $383.00 in the 59078 zip code, while the lowest is also $383.00 in the same zip code.
Average Shawmut Assessed Value
$56,311
Average Wheatland County Assessed Value
$93,000
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | $6,962 | $20,780 | $56,311 | $120,110 | $205,050 |
Source: Ownwell
Property Tax Bills Across Shawmut, Montana
In Shawmut, Wheatland County, MT, property tax bills are determined based on the assessed value of a home, which is calculated as a percentage of the market value. For homeowners, this means that the tax bill can vary significantly depending on the value of their property. For instance, the median home price in Shawmut is $56,311. Property taxes are then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the home's assessed value and the local tax rate. The tax bill for the 25th percentile is $153, while the 75th percentile sees a tax bill of $759, and the 90th percentile reaches $1,374. This range highlights how property values and tax rates impact homeowners differently. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding the local tax environment. Homeowners in Shawmut should be mindful of these factors as they directly affect their annual property tax obligations and overall financial planning.
Average Shawmut Tax Bill
$383
Average Wheatland County Tax Bill
$680
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | $76 | $153 | $383 | $759 | $1,374 |
Source: Ownwell