Shepherd, Montana Property Taxes
The median property tax rate in Shepherd, MT is 0.77%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $335,100 in Shepherd, the typical annual property tax bill amounts to $2,522, falling below the national median of $2,690. Property taxes in Shepherd are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Shepherd'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 Shepherd or another part of Yellowstone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shepherd, 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 Shepherd Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shepherd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shepherd 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 Shepherd, Montana
Property taxes in Shepherd, Montana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Shepherd is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Shepherd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shepherd 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 Shepherd's effective property tax rate to other counties in Montana and the national median. For comparison, the 59079 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Shepherd 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 Shepherd Tax Rate
0.77%
Average Yellowstone County Tax Rate
0.84%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | 0.65% | 0.72% | 0.77% | 0.82% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Shepherd, Montana
In Shepherd, 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 Shepherd, 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 Shepherd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Shepherd is $2,522, as seen in zip code 59079, while the lowest median tax bill is also $2,522 in the same zip code.
Average Shepherd Assessed Value
$335,100
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 Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | $12,970 | $100,601 | $335,100 | $420,800 | $507,400 |
Source: Ownwell
Property Tax Bills Across Shepherd, Montana
In Shepherd, located in Yellowstone County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the county assessor. Homeowners in Shepherd experience a range of property tax bills, largely influenced by the value of their property and the local tax rate. For instance, the median home price in Shepherd is $335,100. Tax bills can vary significantly, with the 25th percentile tax bill at $1,616 and the 75th percentile reaching $3,217. At the 90th percentile, homeowners might see tax bills as high as $3,975. These figures reflect the variability in home values and the corresponding tax rates within the area. Compared to the national median property tax rate of 0.99%, Shepherd's property tax rates can lead to a considerable financial impact on homeowners, influencing their overall cost of living and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Shepherd Tax Bill
$2,522
Average Yellowstone County Tax Bill
$2,559
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | $208 | $1,616 | $2,522 | $3,217 | $3,975 |
Source: Ownwell