Rollins, Montana Property Taxes
The median property tax rate in Rollins, MT is 0.50%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Rollins at $799,400, the typical annual property tax bill reaches $4,057, exceeding the national median of $2,690. Property taxes in Rollins are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rollins'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 Rollins 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
Rollins, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$3,997
Ownwell’s Rollins Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rollins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rollins to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. If you’re interested in observing 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 Rollins, Montana
Property taxes in Rollins, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rollins is 0.50%, lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Rollins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rollins 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 Rollins' effective property tax rate to other areas in Montana and the national median. For comparison, the 59931 zip code has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Rollins provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rollins Tax Rate
0.50%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rollins, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59931 | 0.49% | 0.49% | 0.50% | 0.53% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Rollins, Montana
In Rollins, 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 Lake 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 Rollins, 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 Rollins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Rollins is 59931, with a median tax bill of $4,057.
Average Rollins Assessed Value
$799,400
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rollins, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59931 | $223,128 | $422,400 | $799,400 | $1,345,700 | $1,808,720 |
Source: Ownwell
Property Tax Bills Across Rollins, Montana
Property tax bills in Rollins, located in Lake County, MT, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which in Rollins is influenced by the median home price of $799,400. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors impact the final tax bill, including property location, home size, and any applicable exemptions. For instance, properties in the 25th percentile have tax bills around $2,259, while those in the 75th percentile see bills as high as $6,553. The top 10% of properties face tax bills nearing $8,819. These property tax bills significantly affect homeowners, influencing their monthly budgets and overall financial planning. Compared to the national median property tax rate of 0.99%, Rollins homeowners may experience varying degrees of financial impact depending on their property's assessed value and the local tax rate.
Average Rollins Tax Bill
$4,057
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Rollins, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59931 | $1,319 | $2,259 | $4,057 | $6,553 | $8,819 |
Source: Ownwell