Wolf Point, Montana Property Taxes
The median property tax rate in Wolf Point, MT is 1.18%, notably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Wolf Point at $80,214, the typical annual property tax bill amounts to $932, which is below the national median of $2,690. Property taxes in Wolf Point are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wolf Point'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 Wolf Point or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wolf Point, 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 Wolf Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wolf Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolf Point 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 Wolf Point, Montana
Property taxes in Wolf Point, Montana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolf Point is 1.18%, higher than the U.S. national median of 0.99%. Local government entities within Wolf Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolf Point 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 Wolf Point's effective property tax rate to other counties in Montana and the national median. For comparison, the 59201 zip code has the highest median property tax rate of 1.18%, while the 59201 zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Wolf Point provides valuable insights into the varying tax landscape across Roosevelt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wolf Point Tax Rate
1.18%
Average Roosevelt County Tax Rate
0.97%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | 0.77% | 0.92% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Wolf Point, Montana
In Wolf Point, 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 Roosevelt 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 Wolf Point, 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 Wolf Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 59201, both at $932.
Average Wolf Point Assessed Value
$80,214
Average Roosevelt County Assessed Value
$76,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $6,904 | $41,050 | $80,214 | $135,400 | $185,762 |
Source: Ownwell
Property Tax Bills Across Wolf Point, Montana
In Wolf Point, located in Roosevelt County, MT, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is a percentage of the market value of the home. Homeowners in Wolf Point face a median home price of $80,214. The tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including the home's market value, local tax rates, and any applicable exemptions. For example, the tax bill for the 25th percentile is $522, while for the 75th percentile, it reaches $1,474. At the 90th percentile, homeowners can expect to pay around $1,969. These variations highlight how property value and assessment accuracy can significantly impact tax obligations. Compared to the national median property tax rate of 0.99%, Wolf Point’s property tax bills are relatively moderate, providing some relief to homeowners in the area.
Average Wolf Point Tax Bill
$932
Average Roosevelt County Tax Bill
$882
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $167 | $522 | $932 | $1,474 | $1,969 |
Source: Ownwell