Two Dot, Montana Property Taxes
The median property tax rate in Two Dot, MT is 0.60%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Two Dot at $69,814, the typical annual property tax bill amounts to $427, which is well below the national median of $2,690. Property taxes in Two Dot are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Two Dot's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Two Dot or another part of Wheatland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Two Dot, 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 Two Dot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Two Dot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Two Dot 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 Two Dot, Montana
Property taxes in Two Dot, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Two Dot is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Two Dot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Two Dot 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 Two Dot's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59085 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Two Dot 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 Two Dot 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 Two Dot, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59085 | 0.60% | 0.60% | 0.60% | 0.71% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Two Dot, Montana
In Two Dot, 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 Two Dot, 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 Two Dot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59085 has the highest and lowest median tax bill at $427.
Average Two Dot Assessed Value
$69,814
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 Two Dot, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59085 | $9,079 | $24,785 | $69,814 | $234,418 | $432,100 |
Source: Ownwell
Property Tax Bills Across Two Dot, Montana
In Two Dot, Wheatland County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Two Dot face a median home price of $69,814. Property tax bills can vary significantly, with the 25th percentile at $133 and the 75th percentile reaching $1,654. For those in the 90th percentile, tax bills can be as high as $3,026. Compared to the national median property tax rate of 0.99%, Two Dot's tax rates reflect local policies and funding needs, impacting homeowners differently. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence assessed values and, consequently, tax bills. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Two Dot Tax Bill
$427
Average Wheatland County Tax Bill
$680
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Two Dot, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59085 | $51 | $133 | $427 | $1,654 | $3,026 |
Source: Ownwell