Culbertson, Montana Property Taxes
The median property tax rate in Culbertson, MT is 0.69%, significantly lower than both the national median of 0.99% and Montana's state median of 0.83%. With a median home value of $173,191 in Culbertson, the typical annual property tax bill is $1,428, which is below the national median of $2,690. Property taxes in Culbertson are calculated based on the tax assessed value, which often falls below market value due to exemptions such as those for primary residences and agricultural land. Understanding Culbertson'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 Culbertson or another part of Richland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Culbertson, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,195
Ownwell’s Culbertson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culbertson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culbertson 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 Culbertson, Montana
Property taxes in Culbertson, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culbertson is 0.69%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Culbertson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culbertson 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 Culbertson's effective property tax rate to other counties in Montana and the national median. For comparison, the 59218 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these areas compare with Culbertson provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culbertson Tax Rate
0.69%
Average Richland County Tax Rate
0.90%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culbertson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59218 | 0.59% | 0.64% | 0.69% | 0.84% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Culbertson, Montana
In Culbertson, 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 Richland 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 Culbertson, 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 Culbertson 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 $1,428 in the 59218 zip code, while the lowest is also $1,428 in the same zip code.
Average Culbertson Assessed Value
$173,191
Average Richland County Assessed Value
$177,637
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culbertson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59218 | $37,267 | $79,499 | $173,191 | $235,073 | $363,660 |
Source: Ownwell
Property Tax Bills Across Culbertson, Montana
In Culbertson, MT, 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 a percentage of the property's market value. The tax rate, or millage rate, is then applied to this assessed value to calculate the property tax bill. For instance, with a median home price of $173,191, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $997, while at the 75th percentile, it rises to about $2,073. The highest tax bills, at the 90th percentile, can reach up to $2,470. Comparatively, the median property tax rate in Culbertson is 0.99%, aligning with the national median. This means that homeowners in this region face property tax rates that are on par with the national average. However, individual tax bills can differ significantly based on the specific assessed value of the property and the applicable millage rate, impacting homeowners' annual financial planning.
Average Culbertson Tax Bill
$1,428
Average Richland County Tax Bill
$1,650
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Culbertson, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59218 | $346 | $997 | $1,428 | $2,073 | $2,470 |
Source: Ownwell