Hobson, Montana Property Taxes
The median property tax rate in Hobson, MT is 0.54%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $59,350 in Hobson, the typical annual property tax bill is $444, well below the national median of $2,690. Property taxes in Hobson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hobson'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 Hobson or another part of Judith Basin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hobson, 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 Hobson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobson 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 Hobson, Montana
Property taxes in Hobson, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobson is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Hobson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobson 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 Hobson's effective property tax rate to other regions in Montana and the national median. For comparison, the 59452 zip code has both the highest and lowest median property tax rate in the area, standing at 0.54%. Understanding how these figures compare with Hobson provides valuable insights into the varying tax landscape across Judith Basin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobson Tax Rate
0.54%
Average Judith Basin County Tax Rate
0.56%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59452 | 0.51% | 0.54% | 0.54% | 0.68% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Hobson, Montana
In Hobson, 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 Judith Basin 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 Hobson, 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. The median home price in Hobson is $59,350, with tax bills ranging from $57 at the 25th percentile to $2,013 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hobson Assessed Value
$59,350
Average Judith Basin County Assessed Value
$105,348
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59452 | $10,044 | $10,239 | $59,350 | $178,925 | $329,177 |
Source: Ownwell
Property Tax Bills Across Hobson, Montana
In Hobson, located in Judith Basin County, MT, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in Hobson is $59,350, and the property tax rate is applied to this assessed value. Factors such as property improvements, location, and market trends influence the assessed value. Homeowners in Hobson can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $57 and the 75th percentile at $1,211. Those at the 90th percentile may see tax bills as high as $2,013. Comparatively, the national median property tax rate is 0.99%, which provides context for understanding local tax burdens. For Hobson residents, understanding these factors is crucial as property taxes directly impact household finances. The highest and lowest median tax bills in the region both stand at $444, indicating some uniformity in certain areas. Knowing how these elements come together helps homeowners anticipate and plan for their annual tax obligations.
Average Hobson Tax Bill
$444
Average Judith Basin County Tax Bill
$694
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59452 | $54 | $57 | $444 | $1,211 | $2,013 |
Source: Ownwell