Molt, Montana Property Taxes
The median property tax rate in MOLT, 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 MOLT at $414,100, the typical annual property tax bill reaches $2,280, which is still below the national median of $2,690. Property taxes in MOLT 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 MOLT'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 MOLT 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
Molt, 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 MOLT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOLT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOLT 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 Molt, Montana
Property taxes in MOLT, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MOLT is 0.60%, lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within MOLT set these rates annually, and they can vary significantly across different neighborhoods. Each year, MOLT 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 MOLT's effective property tax rate to other counties in Montana and the national median. For comparison, the 59057 zip code has the highest median property tax rate of 0.60%, while the 59057 zip code has the lowest median tax rate of 0.60%. Understanding how these cities compare with MOLT provides valuable insights into the varying tax landscape across Yellowstone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Molt Tax Rate
0.60%
Average Yellowstone County Tax Rate
0.84%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Molt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59057 | 0.35% | 0.55% | 0.60% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Molt, Montana
In MOLT, 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 Yellowstone 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 MOLT, 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 MOLT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59057 in MOLT has both the highest and lowest median tax bill, valued at $2,280.
Average Molt Assessed Value
$414,100
Average Yellowstone County Assessed Value
$306,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Molt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59057 | $25,500 | $309,600 | $414,100 | $512,050 | $629,200 |
Source: Ownwell
Property Tax Bills Across Molt, Montana
In MOLT, Yellowstone County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in MOLT, the median home price is $414,100. The property tax rate in Yellowstone County is applied to this assessed value to determine the annual tax bill. Homeowners can expect a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,530, while the 75th percentile tax bill goes up to $3,115. At the 90th percentile, tax bills can reach as high as $3,856. These tax bills can significantly impact homeowners, influencing their overall cost of living and potentially affecting their decisions on property investment. Compared to the national median property tax rate of 0.99%, homeowners in MOLT experience varying levels of property tax obligations based on their specific property assessments.
Average Molt Tax Bill
$2,280
Average Yellowstone County Tax Bill
$2,559
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Molt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59057 | $286 | $1,530 | $2,280 | $3,115 | $3,856 |
Source: Ownwell