Cohagen, Montana Property Taxes
The median property tax rate in Cohagen, MT is 0.78%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Cohagen at $137,916, the typical annual property tax bill is approximately $1,196, which is below the national median of $2,690. Property taxes in Cohagen 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 Cohagen'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 Cohagen 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
Cohagen, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,076
Ownwell’s Cohagen Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cohagen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cohagen to provide an accurate estimate of your property tax bill. This invaluable tool helps you grasp potential tax liabilities, allowing for better financial planning. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Garfield County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Cohagen, Montana
Property taxes in Cohagen, Montana, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cohagen is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Cohagen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cohagen 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. Understanding how these rates compare with other areas provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cohagen Tax Rate
0.78%
Average Garfield County Tax Rate
0.88%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cohagen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59322 | 0.71% | 0.73% | 0.78% | 0.85% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Cohagen, Montana
In Cohagen, 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 Garfield 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 Cohagen, 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 Cohagen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,196, found in the 59322 zip code.
Average Cohagen Assessed Value
$137,916
Average Garfield County Assessed Value
$97,469
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cohagen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59322 | $15,237 | $46,730 | $137,916 | $220,437 | $320,921 |
Source: Ownwell
Property Tax Bills Across Cohagen, Montana
In Cohagen, property tax bills are calculated based on the assessed value of a home and the property tax rate set by Garfield County. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Homeowners in Cohagen can expect their property tax bills to vary significantly depending on their home's assessed value. For instance, the tax bill at the 25th percentile is around $380, while at the 75th percentile, it rises to approximately $2,060, and at the 90th percentile, it reaches about $2,712. The median home price in Cohagen is $137,916, which can give homeowners an idea of what their tax bill might look like compared to national averages. The highest and lowest median tax bills in the area are both $1,196, which aligns with the median property tax rate of 0.99% nationally. These property taxes fund local services such as schools, roads, and emergency services, directly impacting the quality of life for residents.
Average Cohagen Tax Bill
$1,196
Average Garfield County Tax Bill
$1,045
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Cohagen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59322 | $203 | $380 | $1,196 | $2,060 | $2,712 |
Source: Ownwell