Montana City, Montana Property Taxes
The median property tax rate in Montana City, MT is 0.66%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Montana City at $193,122, the typical annual property tax bill amounts to $1,157, well below the national median of $2,690. Property taxes in Montana City 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 Montana City'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 Montana City or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montana City, 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 Montana City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montana City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montana City 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 Montana City, Montana
Property taxes in Montana City, Montana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montana City is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Montana City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montana City 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 Montana City's effective property tax rate to other counties in Montana and the national median. For comparison, the 59634 zip code has the highest median property tax rate of 0.66%, while the same 59634 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Montana City provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montana City Tax Rate
0.66%
Average Jefferson County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montana City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59634 | 0.56% | 0.62% | 0.66% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Montana City, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Montana City, Montana. 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 Jefferson 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 Montana City, 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. For instance, the median home price in Montana City is $193,122, with tax bills ranging from $892 at the 25th percentile to $3,657 at the 90th percentile. The highest and lowest median tax bills are both $1,157, found in the 59634 zip code. 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 Montana City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montana City Assessed Value
$193,122
Average Jefferson County Assessed Value
$377,859
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montana City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59634 | $122,568 | $164,881 | $193,122 | $325,371 | $554,897 |
Source: Ownwell
Property Tax Bills Across Montana City, Montana
In Montana City, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Jefferson County, where Montana City is located, typically see property tax bills that vary widely. For instance, the tax bill at the 25th percentile is $892, while those at the 75th and 90th percentiles are $2,164 and $3,657, respectively. These figures illustrate how property values and the corresponding tax rates can significantly influence the amount homeowners owe annually. The median home price in Montana City is $193,122, and with the national median property tax rate at 0.99%, local variations can lead to differing tax burdens. The highest and lowest median tax bills in the area are both recorded at $1,157 in the zip code 59634. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Montana City Tax Bill
$1,157
Average Jefferson County Tax Bill
$2,698
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Montana City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59634 | $733 | $892 | $1,157 | $2,164 | $3,657 |
Source: Ownwell