Victor, Montana Property Taxes
The median property tax rate in Victor, MT is 0.55%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Victor at $372,250, the typical annual property tax bill reaches $2,078, which is below the national median of $2,690. Property taxes in Victor 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 Victor'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 Victor 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
Victor, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,047
Ownwell’s VICTOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in VICTOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VICTOR 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 Victor, Montana
Property taxes in Victor, Montana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Victor is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Victor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Victor 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 Victor's effective property tax rate to other counties in Montana and the national median. For comparison, the 59875 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these areas compare with Victor 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 Victor Tax Rate
0.55%
Average Ravalli County Tax Rate
0.65%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Victor, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59875 | 0.49% | 0.55% | 0.55% | 0.55% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Victor, Montana
In Victor, 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 Victor, 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 Victor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Victor are both $2,078, found in the 59875 zip code.
Average Victor Assessed Value
$372,250
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 Victor, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59875 | $40,260 | $206,264 | $372,250 | $521,986 | $722,879 |
Source: Ownwell
Property Tax Bills Across Victor, Montana
In VICTOR, located in Ravalli County, MT, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $372,250, homeowners can expect varying tax bills depending on the assessed value and specific tax rates applied. Homeowners in VICTOR might see tax bills ranging from $1,164 at the 25th percentile to $4,095 at the 90th percentile. The median property tax rate in this area is notably influenced by these assessed values. This can lead to significant variations in annual tax bills, impacting household budgets. Compared to the national median property tax rate of 0.99%, the property taxes in this region reflect a range of economic factors and local government funding needs. Understanding these elements can help homeowners better anticipate their property tax obligations.
Average Victor Tax Bill
$2,078
Average Ravalli County Tax Bill
$2,660
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Victor, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59875 | $324 | $1,164 | $2,078 | $2,937 | $4,095 |
Source: Ownwell