Plentywood, Montana Property Taxes
The median property tax rate in Plentywood, MT is 1.29%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Plentywood, the typical annual property tax bill reaches $1,367, exceeding the national median of $2,690. Property taxes in Plentywood are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Plentywood'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 Plentywood 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
Plentywood, 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 Plentywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plentywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plentywood 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 Plentywood, Montana
Property taxes in Plentywood, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plentywood is 0.71%, lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Plentywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plentywood 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 Plentywood's effective property tax rate to other counties in Montana and the national median. For comparison, the 59254 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Plentywood provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plentywood Tax Rate
1.29%
Average Sheridan County Tax Rate
1.29%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plentywood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59254 | 1.15% | 1.22% | 1.29% | 1.35% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Plentywood, Montana
In Plentywood, 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 Sheridan 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 Plentywood, 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 Plentywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59254 has the highest and lowest median tax bill, both at $1367.
Average Plentywood Assessed Value
$103,600
Average Sheridan County Assessed Value
$91,094
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plentywood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59254 | $20,542 | $53,700 | $103,600 | $156,900 | $222,571 |
Source: Ownwell
Property Tax Bills Across Plentywood, Montana
In Plentywood, Sheridan County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Plentywood is $103,600. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Plentywood, the tax bill can vary significantly. The 25th percentile tax bill is $767, while the 75th percentile tax bill reaches $2017. Those in the 90th percentile face tax bills as high as $2821. The highest and lowest median tax bill recorded in the area is $1367, both occurring in the 59254 zip code. Compared to the national median property tax rate of 0.99%, Plentywood's rates may seem favorable. However, the exact impact on homeowners depends on individual property values and specific circumstances, which can lead to considerable differences in tax obligations.
Average Plentywood Tax Bill
$1,367
Average Sheridan County Tax Bill
$1,221
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Plentywood, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59254 | $314 | $767 | $1,367 | $2,017 | $2,821 |
Source: Ownwell