Rexford, Montana Property Taxes
The median property tax rate in Rexford, MT is 0.59%, which is significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value in Rexford, the typical annual property tax bill amounts to $2,039, falling below the national median of $2,690. Property taxes in Rexford are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Rexford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Rexford or another part of Lincoln County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rexford, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,063
Ownwell’s Rexford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rexford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rexford 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 Rexford, Montana
Property taxes in Rexford, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rexford is 0.59%, significantly lower than the U.S. national median of 0.99%. Local government entities within Rexford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rexford 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 Rexford's effective property tax rate to other areas and the national median. For comparison, the 59930 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Rexford provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rexford Tax Rate
0.59%
Average Lincoln County Tax Rate
0.68%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rexford, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59930 | 0.53% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Rexford, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rexford, 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 Lincoln 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 Rexford, 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 Rexford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rexford is $349,592, with the 25th percentile tax bill at $1,390 and the 75th percentile tax bill at $2,872. The highest and lowest median tax bills are both $2,039 in the 59930 zip code.
Average Rexford Assessed Value
$349,592
Average Lincoln County Assessed Value
$263,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rexford, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59930 | $113,780 | $249,450 | $349,592 | $494,609 | $622,800 |
Source: Ownwell
Property Tax Bills Across Rexford, Montana
In Rexford, located in Lincoln County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value, and it forms the basis for the tax calculation. The median home price in Rexford is $349,592, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions. Homeowners in Rexford can expect their property tax bills to vary, with the 25th percentile at $1,390 and the 75th percentile at $2,872. The highest median tax bill in the area is $2,039, which aligns with the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners, as property taxes significantly impact annual housing costs and long-term financial planning. By staying informed about how property taxes are calculated, homeowners can better anticipate their financial obligations.
Average Rexford Tax Bill
$2,039
Average Lincoln County Tax Bill
$1,776
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Rexford, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59930 | $537 | $1,390 | $2,039 | $2,872 | $3,642 |
Source: Ownwell