Melstone, Montana Property Taxes
The median property tax rate in Melstone, MT is 0.84%, slightly higher than the state median of 0.83% but lower than the national median of 0.99%. With a median home value of $187,977, the typical annual property tax bill in Melstone reaches $1,443, which is well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Melstone’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 Melstone or another part of Rosebud County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melstone, 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 Melstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melstone 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 Melstone, Montana
Property taxes in Melstone, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melstone is 0.84%, which is below the U.S. national median of 0.99%. Local government entities within Melstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melstone 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 Melstone's effective property tax rate to other areas in Montana and the national median. For comparison, the 59054 zip code has both the highest and lowest median property tax rate at 0.84%. Understanding how Melstone compares with other areas provides valuable insights into the varying tax landscape across Rosebud County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melstone Tax Rate
0.84%
Average Rosebud County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | 0.64% | 0.67% | 0.84% | 0.99% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Melstone, Montana
In Melstone, 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 Rosebud 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 Melstone, 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 Melstone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Melstone is $187,977, with tax bills at the 25th percentile being $1,039 and at the 75th percentile being $2,026. The highest and lowest median tax bill both stand at $1,443 in zip code 59054.
Average Melstone Assessed Value
$187,977
Average Rosebud County Assessed Value
$88,000
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | $117,070 | $120,503 | $187,977 | $260,631 | $273,388 |
Source: Ownwell
Property Tax Bills Across Melstone, Montana
In Melstone, located in Rosebud County, MT, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property. For example, with a median home price of $187,977, homeowners can expect varying tax bills based on specific assessments and exemptions applied. The tax bill can range significantly, with the 25th percentile at $1,039 and the 75th percentile reaching $2,026. At the 90th percentile, tax bills can go up to $2,516. These figures highlight the variability in property tax obligations, influenced by factors such as the property's location within the county, improvements made, and applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact annual financial planning. Compared to the national median property tax rate of 0.99%, the property tax rate in Melstone can vary, making it essential for homeowners to stay informed and proactive in managing their property tax responsibilities.
Average Melstone Tax Bill
$1,443
Average Rosebud County Tax Bill
$942
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | $872 | $1,039 | $1,443 | $2,026 | $2,516 |
Source: Ownwell