Wise River, Montana Property Taxes
The median property tax rate in Wise River, MT is 0.68%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Wise River at $312,161, the typical annual property tax bill amounts to $2,320, falling below the national median of $2,690. Property taxes in Wise River are calculated based on the tax assessed value, which often comes in under the market value due to various exemptions like the 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
0.68%
Estimate Property Tax Bill
$2,123
Ownwell’s Wise River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wise River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wise River 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 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 0.68%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Wise River set these rates annually, and they can vary significantly 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 other counties in Montana and the national median. For comparison, the 59762 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Wise River 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 Wise River Tax Rate
0.68%
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | 0.64% | 0.65% | 0.68% | 0.80% | 0.87% |
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 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 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 $312,161, with median tax bills ranging from $1,629 at the 25th percentile to $5,236 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 59762, with a median tax bill of $2,320. 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
$312,161
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $124,076 | $223,100 | $312,161 | $536,616 | $665,290 |
Source: Ownwell
Property Tax Bills Across Wise River, Montana
In Wise River, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Several factors influence the tax bill, including the property's location, size, and condition, as well as any improvements made. For homeowners in Wise River, the median home price is $312,161. Property tax bills vary significantly, with the 25th percentile at $1,629 and the 75th percentile reaching $3,582. At the 90th percentile, homeowners might see tax bills as high as $5,236. These variations illustrate how different property values and assessments impact the overall tax burden. Comparatively, Wise River's property tax rates are influenced by local levies and budget requirements, which may differ from the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Wise River Tax Bill
$2,320
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $1,002 | $1,629 | $2,320 | $3,582 | $5,236 |
Source: Ownwell