Ballantine, Montana Property Taxes
The median property tax rate in Ballantine, MT is 0.63%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $75,620 in Ballantine, the typical annual property tax bill comes to around $1,020, which is significantly below the national median of $2,690. Property taxes in Ballantine are calculated based on the assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ballantine'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 Ballantine 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
Ballantine, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$476
Ownwell’s Ballantine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ballantine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ballantine 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 Ballantine, Montana
Property taxes in Ballantine, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ballantine is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Ballantine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ballantine 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 Ballantine's effective property tax rate to other counties in Montana and the national median. For comparison, the 59006 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Ballantine provides valuable insights into the varying tax landscape across Yellowstone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ballantine Tax Rate
0.63%
Average Yellowstone County Tax Rate
0.84%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ballantine, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59006 | 0.43% | 0.60% | 0.63% | 0.69% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Ballantine, Montana
In Ballantine, 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 Yellowstone 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 Ballantine, 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 Ballantine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 59006 has the highest and lowest median tax bill at $1,020.
Average Ballantine Assessed Value
$75,620
Average Yellowstone County Assessed Value
$306,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ballantine, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59006 | $6,236 | $11,610 | $75,620 | $272,800 | $345,780 |
Source: Ownwell
Property Tax Bills Across Ballantine, Montana
Property tax bills in Ballantine, located in Yellowstone County, MT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Several factors influence this assessment, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Ballantine, the median home price is $75,620. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $121 and the 75th percentile reaching $1,779. The 90th percentile tax bill can go up to $2,382. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Ballantine’s property tax rates can be relatively modest, offering a more affordable option for homeowners while still contributing to community services.
Average Ballantine Tax Bill
$1,020
Average Yellowstone County Tax Bill
$2,559
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ballantine, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59006 | $39 | $121 | $1,020 | $1,779 | $2,382 |
Source: Ownwell