Mildred, Montana Property Taxes
The median property tax rate in Mildred, MT is 0.80%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $28,813 in Mildred, the typical annual property tax bill is $397, significantly below the national median of $2,690. Property taxes in Mildred are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mildred'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 Mildred 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
Mildred, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$231
Ownwell’s Mildred Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mildred with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mildred 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 Mildred, Montana
Property taxes in Mildred, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mildred is 0.80%, lower than the U.S. national median of 0.99%. Local government entities within Mildred set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mildred 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 Mildred's effective property tax rate to other areas in Prairie County and the national median. For comparison, the zip code 59341 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Mildred provides valuable insights into the varying tax landscape across Prairie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mildred Tax Rate
0.80%
Average Prairie County Tax Rate
1.05%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mildred, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59341 | 0.79% | 0.79% | 0.80% | 0.91% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Mildred, Montana
In Mildred, 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 Prairie 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 Mildred, 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 Mildred helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $397 in the zip code 59341, while the lowest is also $397 in the same zip code.
Average Mildred Assessed Value
$28,813
Average Prairie County Assessed Value
$64,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mildred, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59341 | $2,782 | $7,624 | $28,813 | $76,932 | $113,227 |
Source: Ownwell
Property Tax Bills Across Mildred, Montana
In Mildred, located in Prairie County, MT, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The assessed value is a percentage of the market value of the home, which is then multiplied by the tax rate to calculate the annual tax bill. For example, with a median home price of $28,813, homeowners in Mildred can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $85, while the 75th percentile tax bill reaches up to $760. At the 90th percentile, homeowners might see a tax bill as high as $1,101. Compared to the national median property tax rate of 0.99%, these figures reflect a relatively low property tax burden. However, the impact on homeowners can still be substantial, particularly for those with properties assessed at higher values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Mildred Tax Bill
$397
Average Prairie County Tax Bill
$652
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Mildred, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59341 | $43 | $85 | $397 | $760 | $1,101 |
Source: Ownwell