Shelby, Montana Property Taxes
The median property tax rate in Shelby, MT is 1.24%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Shelby, the typical annual property tax bill reaches $1,444, exceeding the national median of $2,690. Property taxes in Shelby 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 Shelby'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 Shelby or another part of Toole County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelby, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,462
Ownwell’s Shelby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelby 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 Shelby, Montana
Property taxes in Shelby, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelby is 1.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Shelby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelby 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 Shelby's effective property tax rate to other areas in Montana and the national median. For comparison, the 59474 zip code has both the highest and lowest median property tax rate of 1.24%. Understanding how these areas compare with Shelby provides valuable insights into the varying tax landscape across Toole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelby Tax Rate
1.24%
Average Toole County Tax Rate
1.23%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59474 | 0.92% | 1.18% | 1.24% | 1.34% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Shelby, Montana
In Shelby, 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 local 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 Shelby, 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 Shelby 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 $1,444 in the 59474 zip code, which also has the lowest median tax bill, highlighting the uniformity in property taxes across the region.
Average Shelby Assessed Value
$117,900
Average Toole County Assessed Value
$109,500
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59474 | $19,169 | $63,000 | $117,900 | $189,812 | $269,100 |
Source: Ownwell
Property Tax Bills Across Shelby, Montana
In Shelby, located in Toole County, MT, property tax bills are determined based on the assessed value of a home. The local tax assessor evaluates properties to establish their assessed value, which is then used to calculate the tax bill. For instance, with a median home price of $117,900, homeowners can expect varying tax bills depending on specific assessments and local tax rates. Several factors influence the tax bill, including property size, location, and improvements. In Shelby, the 25th percentile tax bill is around $852, while the 75th percentile tax bill reaches $2,285. The 90th percentile tax bill can be as high as $3,100. These figures highlight the range of property tax liabilities homeowners might face. Compared to the national median property tax rate of 0.99%, Shelby's rates reflect the unique economic and property valuation dynamics of the area. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Shelby Tax Bill
$1,444
Average Toole County Tax Bill
$1,320
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59474 | $381 | $852 | $1,444 | $2,285 | $3,100 |
Source: Ownwell