Sula, Montana Property Taxes
The median property tax rate in SULA, MT is 0.56%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in SULA at $246,000, the typical annual property tax bill reaches $1,363, significantly below the national median of $2,690. Property taxes in SULA 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 SULA'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 SULA 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
Sula, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,378
Ownwell’s SULA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential buyer estimate their annual property taxes in SULA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SULA 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 Sula, Montana
Property taxes in SULA, Montana, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in SULA is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within SULA set these rates annually, and they can vary significantly across different neighborhoods. Each year, SULA 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 SULA's effective property tax rate to other counties in Montana and the national median. For comparison, the 59871 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with SULA provides valuable insights into the varying tax landscape across Ravalli County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sula Tax Rate
0.56%
Average Ravalli County Tax Rate
0.65%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sula, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59871 | 0.55% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Sula, Montana
In SULA, 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 Ravalli 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 SULA, 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 SULA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59871 in Ravalli County has the highest median tax bill of $1,363, which is notably lower than the national median property tax rate of 0.99%.
Average Sula Assessed Value
$246,000
Average Ravalli County Assessed Value
$388,190
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sula, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59871 | $32,940 | $113,402 | $246,000 | $406,522 | $610,755 |
Source: Ownwell
Property Tax Bills Across Sula, Montana
Property tax bills in SULA, located in Ravalli County, MT, are calculated based on the assessed value of a property and the local tax rate. Homeowners in this region typically see a range of tax bills, with the 25th percentile paying around $608 and the 75th percentile paying up to $2,341. At the higher end, the 90th percentile tax bill reaches $3,613. The median home price in SULA is $246,000, and this value plays a significant role in determining the tax bill. Local tax authorities assess properties to establish their taxable value, which is then multiplied by the applicable tax rate to calculate the bill. Factors such as property size, location, and condition can influence the assessed value. Compared to the national median property tax rate of 0.99%, the tax rates in SULA are reflective of the local economic conditions and public service funding needs. For homeowners, understanding these factors is crucial as they directly impact annual financial planning and long-term property investment decisions.
Average Sula Tax Bill
$1,363
Average Ravalli County Tax Bill
$2,660
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Sula, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59871 | $188 | $608 | $1,363 | $2,341 | $3,613 |
Source: Ownwell