Warm Springs, Montana Property Taxes
The median property tax rate in Warm Springs, MT is 0.95%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Warm Springs being $969,409, the typical annual property tax bill reaches $9,162, significantly surpassing the national median of $2,690. Property taxes in Warm Springs are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Warm Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Warm Springs 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
Warm Springs, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$9,209
Ownwell’s Warm Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warm Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warm Springs 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 Warm Springs, Montana
Property taxes in Warm Springs, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warm Springs is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Warm Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warm Springs 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 Warm Springs' effective property tax rate to other areas in Montana and the national median. For comparison, the 59756 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these rates compare with Warm Springs provides valuable insights into the varying tax landscape across Deer Lodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warm Springs Tax Rate
0.95%
Average Deer Lodge County Tax Rate
0.93%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warm Springs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59756 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Warm Springs, Montana
In Warm Springs, 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 Deer Lodge 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 Warm Springs, 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 Warm Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Warm Springs, both amounting to $9,162, are found in the 59756 zip code.
Average Warm Springs Assessed Value
$969,409
Average Deer Lodge County Assessed Value
$187,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warm Springs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59756 | $969,409 | $969,409 | $969,409 | $969,409 | $969,409 |
Source: Ownwell
Property Tax Bills Across Warm Springs, Montana
In Warm Springs, located in Deer Lodge 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 a percentage of the market value of the property. For instance, with a median home price of $969,409, the assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Warm Springs can expect a median tax bill of $9,162, which is significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's location, size, and any improvements or renovations made. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially making it more challenging to afford. However, these taxes are crucial for funding local services such as schools, public safety, and infrastructure, thereby contributing to the community's overall quality of life.
Average Warm Springs Tax Bill
$9,162
Average Deer Lodge County Tax Bill
$1,711
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Warm Springs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59756 | $9,162 | $9,162 | $9,162 | $9,162 | $9,162 |
Source: Ownwell