Wise River, Montana Property Taxes
The median property tax rate in Wise River, MT is 0.58%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $315,382 in Wise River, the typical annual property tax bill amounts to $1,854, which is well below the national median of $2,690. Property taxes in Wise River are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wise River'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 Wise River 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
Wise River, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,829
Ownwell’s Wise River Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Wise River. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wise River to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Wise River, Montana
Property taxes in Wise River, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wise River is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Wise River set these rates annually, and they can vary across different neighborhoods. Each year, Wise River 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 Wise River's effective property tax rate to the national median. For comparison, the zip code 59762 has both the highest and lowest median property tax rate in Wise River at 0.58%. Understanding how these figures compare with Wise River provides valuable insights into the varying tax landscape across Beaverhead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wise River Tax Rate
0.58%
Average Beaverhead County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | 0.55% | 0.56% | 0.58% | 0.61% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Wise River, Montana
In Wise River, 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 Beaverhead County Assessor 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 Wise River, 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 Wise River is $315,382. Notably, the highest median tax bill in the area is $1,854, while the lowest is also $1,854, both found in zip code 59762. 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 Wise River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wise River Assessed Value
$315,382
Average Beaverhead County Assessed Value
$266,900
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $40,955 | $167,487 | $315,382 | $540,222 | $769,439 |
Source: Ownwell
Property Tax Bills Across Wise River, Montana
In Wise River, located in Beaverhead County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $315,382, homeowners can expect to pay a tax bill that varies significantly depending on their specific circumstances. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Wise River, tax bills can range from $1,025 at the 25th percentile to $4,673 at the 90th percentile. This wide range indicates the variability in property values and the assessed rates applied. Compared to the national median property tax rate of 0.99%, Wise River's rates can be relatively moderate or high, impacting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Wise River Tax Bill
$1,854
Average Beaverhead County Tax Bill
$2,175
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $316 | $1,025 | $1,854 | $3,256 | $4,673 |
Source: Ownwell