Ekalaka, Montana Property Taxes
The median property tax rate in Ekalaka, MT is 0.51%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Ekalaka at $69,300, the typical annual property tax bill reaches $426, significantly below the national median of $2,690. Property taxes in Ekalaka 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 Ekalaka'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 Ekalaka or another part of Carter County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ekalaka, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$353
Ownwell's Ekalaka Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Ekalaka with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Ekalaka to provide an estimate of your property tax bill. This valuable tool helps you anticipate your tax obligations and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Ekalaka, Montana
Property taxes in Ekalaka, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ekalaka is 0.51%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Ekalaka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ekalaka 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 Ekalaka's effective property tax rate to other counties in Montana and the national median. For comparison, the 59324 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Ekalaka provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ekalaka Tax Rate
0.51%
Average Carter County Tax Rate
0.41%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ekalaka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59324 | 0.35% | 0.37% | 0.51% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Ekalaka, Montana
In Ekalaka, 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 Ekalaka, 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 Ekalaka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59324 in Ekalaka has the highest and lowest median tax bill, both at $426, reflecting the localized nature of property tax assessments in this area.
Average Ekalaka Assessed Value
$69,300
Average Carter County Assessed Value
$74,600
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ekalaka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59324 | $15,786 | $30,900 | $69,300 | $135,182 | $232,690 |
Source: Ownwell
Property Tax Bills Across Ekalaka, Montana
In Ekalaka, property tax bills are calculated based on the assessed value of a property, which is determined by the Carter County Assessor. The assessed value is a percentage of the market value of the home. For example, with a median home price of $69,300, the assessed value is used to calculate the property tax bill. Various factors, such as property size, location, and improvements, contribute to the assessed value. Homeowners in Ekalaka can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $222, while the 75th percentile tax bill is about $690. At the higher end, the 90th percentile tax bill reaches $1,105. These figures highlight the range of property tax obligations within the area. In comparison to the national median property tax rate of 0.99%, Ekalaka's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Ekalaka Tax Bill
$426
Average Carter County Tax Bill
$421
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ekalaka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59324 | $130 | $222 | $426 | $690 | $1,105 |
Source: Ownwell