Polaris, Montana Property Taxes
The median property tax rate in Polaris, MT is 0.56%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Polaris at $341,382, the typical annual property tax bill amounts to $1,896, which is well below the national median of $2,690. Property taxes in Polaris are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Polaris'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 Polaris 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
Polaris, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,912
$1,774
Ownwell’s Polaris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Polaris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Polaris 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 Polaris, Montana
Property taxes in Polaris, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Polaris is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Polaris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Polaris 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 Polaris's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59746 has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Polaris provides valuable insights into the varying tax landscape across Beaverhead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Polaris Tax Rate
0.56%
Average Beaverhead County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Polaris, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59746 | 0.54% | 0.55% | 0.56% | 0.58% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Polaris, Montana
In Polaris, 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 Beaverhead 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. Assessment notices in Polaris 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. The median home price in Polaris is $341,382, with tax bills ranging from $1,209 at the 25th percentile to $3,885 at the 90th percentile. The zip code 59746 has both the highest and lowest median tax bill at $1,896. Being aware of these valuation processes in Polaris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Polaris Assessed Value
$341,382
Average Beaverhead County Assessed Value
$266,900
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Polaris, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59746 | $132,280 | $203,446 | $341,382 | $494,910 | $688,947 |
Source: Ownwell
Property Tax Bills Across Polaris, Montana
In Polaris, located in Beaverhead County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Polaris see a range of tax bills, with the 25th percentile at $1,209 and the 75th percentile at $2,737. The highest tax bills reach up to $3,885 at the 90th percentile. The median home price in Polaris is $341,382, which helps determine the assessed value used for tax calculations. Factors influencing the tax bill include the home's assessed value, which is a percentage of its market value, and the local tax rate. These elements together determine the final tax amount owed by homeowners. The median property tax rate nationally is 0.99%, and comparing this to the local rates can help homeowners understand their tax obligations better. High property taxes can significantly impact homeowners by increasing their annual expenses, making it crucial to understand how these taxes are calculated and managed.
Average Polaris Tax Bill
$1,896
Average Beaverhead County Tax Bill
$2,175
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Polaris, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59746 | $767 | $1,209 | $1,896 | $2,737 | $3,885 |
Source: Ownwell