Custer, Montana Property Taxes
The median property tax rate in Custer, MT is 1.19%, significantly higher than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $232,047 in Custer, the typical annual property tax bill amounts to $3,229, surpassing the national median of $2,690. Property taxes in Custer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Custer'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 Custer 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
Custer, 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 Custer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Custer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Custer 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 Custer, Montana
Property taxes in Custer, Montana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Custer is 0.83%, lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Custer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Custer 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 Custer's effective property tax rate to other counties in Montana and the national median. For comparison, the 59024 zip code in Big Horn County has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Custer provides valuable insights into the varying tax landscape across Big Horn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Custer Tax Rate
1.19%
Average Big Horn County Tax Rate
1.09%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Custer, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59024 | 1.02% | 1.03% | 1.19% | 1.25% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Custer, Montana
In Custer, 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 Big Horn 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 Custer, 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 Custer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Custer is $232,047, with the 25th percentile tax bill at $1,641 and the 75th percentile tax bill at $4,853. Notably, the zip code 59024 has the highest and lowest median tax bill, both at $3,229.
Average Custer Assessed Value
$232,047
Average Big Horn County Assessed Value
$96,282
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Custer, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59024 | $73,711 | $127,474 | $232,047 | $399,417 | $631,309 |
Source: Ownwell
Property Tax Bills Across Custer, Montana
In Custer, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $232,047, homeowners can expect varying tax bills depending on the specific valuation and exemptions applied. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or abatements. For example, the tax bill at the 25th percentile is around $1,641, while at the 75th percentile, it rises to about $4,853. The 90th percentile tax bill can reach up to $7,084. These taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Custer experience a range of tax obligations that can significantly influence their annual expenses and overall cost of living.
Average Custer Tax Bill
$3,229
Average Big Horn County Tax Bill
$1,275
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Custer, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59024 | $940 | $1,641 | $3,229 | $4,853 | $7,084 |
Source: Ownwell