Mosby, Montana Property Taxes
The median property tax rate in Mosby, MT is 1.13%, noticeably higher than both the national median of 0.99% and Montana's state median of 0.83%. With a median home value of $137,052 in Mosby, the typical annual property tax bill reaches $1,658, which is below the national median of $2,690. Property taxes in Mosby 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 Mosby'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 Mosby 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
Mosby, 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 Mosby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mosby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mosby 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 Mosby, Montana
Property taxes in Mosby, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mosby is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mosby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mosby 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 Mosby's effective property tax rate to other counties in Montana and the national median. For comparison, the 59058 zip code has the highest median property tax rate of 1.13%, while the 59058 zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Mosby 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 Mosby Tax Rate
1.13%
Average Petroleum County Tax Rate
1.23%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mosby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59058 | 1.02% | 1.05% | 1.13% | 1.23% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Mosby, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mosby, 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 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 Mosby, 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 Mosby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mosby, the zip code 59058 has both the highest and lowest median tax bill at $1,658.
Average Mosby Assessed Value
$137,052
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 Mosby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59058 | $70,267 | $104,012 | $137,052 | $183,258 | $216,780 |
Source: Ownwell
Property Tax Bills Across Mosby, Montana
In Mosby, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, in Petroleum County, where Mosby is located, homeowners face a median tax bill of $1,658, which is derived from the area's assessed property values. Factors influencing the tax bill include the home's market value, any applicable exemptions, and the specific tax rate set by local authorities. For instance, homes in the 25th percentile of tax bills pay around $1,268, while those in the 75th percentile pay approximately $2,141. At the higher end, the 90th percentile sees tax bills reaching up to $2,393. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in Mosby. The local tax rate and assessed values ensure that property taxes are proportionate to the value of the property owned.
Average Mosby Tax Bill
$1,658
Average Petroleum County Tax Bill
$721
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Mosby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59058 | $781 | $1,268 | $1,658 | $2,141 | $2,393 |
Source: Ownwell