Roy, Montana Property Taxes
The median property tax rate in Roy, MT is 0.81%, slightly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Roy at $94,472, the typical annual property tax bill reaches $871, which is significantly less than the national median of $2,690. Property taxes in Roy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Roy'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 Roy or another part of Fergus County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roy, 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 ROY Property Tax Bill Calculator enables homeowners, real estate investors, and potential owners to estimate their annual property taxes in ROY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ROY 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 Roy, Montana
Property taxes in Roy, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roy is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Roy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roy 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. For comparison, the 59471 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Roy provides valuable insights into the varying tax landscape across Fergus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roy Tax Rate
0.81%
Average Fergus County Tax Rate
0.99%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roy, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59471 | 0.71% | 0.72% | 0.81% | 0.85% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Roy, Montana
In Roy, 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 Fergus 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 Roy, 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 Roy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Roy are both $871, with the zip code 59471 reflecting this value.
Average Roy Assessed Value
$94,472
Average Fergus County Assessed Value
$177,627
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roy, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59471 | $10,878 | $26,706 | $94,472 | $190,032 | $334,348 |
Source: Ownwell
Property Tax Bills Across Roy, Montana
In ROY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $94,472, homeowners in ROY typically see tax bills ranging from $341 at the 25th percentile to $1,663 at the 75th percentile, with the 90th percentile reaching up to $3,037. Several factors influence the assessed value, including the property's location, size, and condition. These property tax bills significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Comparatively, the national median property tax rate is 0.99%, and while specific rates in ROY may vary, understanding how these taxes are calculated helps homeowners plan their finances more effectively.
Average Roy Tax Bill
$871
Average Fergus County Tax Bill
$1,787
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Roy, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59471 | $113 | $341 | $871 | $1,663 | $3,037 |
Source: Ownwell