Cat Creek, Montana Property Taxes
The median property tax rate in Cat Creek, MT is 1.04%, slightly above the national median of 0.99% and significantly higher than the Montana state median of 0.83%. With the median home value in Cat Creek at $305,028, the typical annual property tax bill amounts to $3,178, surpassing the national median of $2,690. Property taxes in Cat Creek 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 Cat Creek'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 Cat Creek 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
Cat Creek, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,172
Ownwell’s Cat Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cat Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cat Creek 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 Cat Creek, Montana
Property taxes in Cat Creek, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cat Creek is 0.74%, lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Cat Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cat Creek 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 Cat Creek's effective property tax rate to other counties in Montana and the national median. For comparison, the 59087 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Cat Creek provides valuable insights into the varying tax landscape across Petroleum County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cat Creek Tax Rate
1.04%
Average Petroleum County Tax Rate
1.23%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cat Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59087 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Cat Creek, Montana
In Cat Creek, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 local 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 Cat Creek, 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 Cat Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cat Creek are both $3,178, found in the 59087 zip code.
Average Cat Creek Assessed Value
$305,028
Average Petroleum County Assessed Value
$57,945
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cat Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59087 | $305,028 | $305,028 | $305,028 | $305,028 | $305,028 |
Source: Ownwell
Property Tax Bills Across Cat Creek, Montana
In Cat Creek, located in Petroleum County, MT, property tax bills are calculated based on the assessed value of a home. The median home price in this area stands at $305,028. Property taxes are determined by multiplying the assessed value by the local tax rate. In this region, property tax bills are notably uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $3,178. This uniformity suggests a consistent application of tax rates across different property values. Several factors influence the tax bill, including the property's assessed value and the local tax rate. Homeowners in Cat Creek can expect their tax bills to be relatively predictable, which aids in financial planning. Compared to the national median property tax rate of 0.99%, Cat Creek's tax rate results in a higher median tax bill, reflecting the area's specific valuation and tax policies. This higher tax bill can impact homeowners by increasing their annual expenses, which is crucial to consider when budgeting for homeownership in this region.
Average Cat Creek Tax Bill
$3,178
Average Petroleum County Tax Bill
$721
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Cat Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59087 | $3,178 | $3,178 | $3,178 | $3,178 | $3,178 |
Source: Ownwell