Belt, Montana Property Taxes
The median property tax rate in Belt, MT is 0.71%, significantly lower than the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Belt, the typical annual property tax bill reaches $1,837, well below the national median of $2,690. Property taxes in Belt are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Belt'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 Belt 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
Belt, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,755
Ownwell’s BELT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BELT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BELT 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 Belt, Montana
Property taxes in Belt, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belt is 0.71%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Belt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belt 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 Belt's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59412 has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Belt provides valuable insights into the varying tax landscape across Cascade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belt Tax Rate
0.71%
Average Cascade County Tax Rate
1.00%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59412 | 0.66% | 0.68% | 0.71% | 0.82% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Belt, Montana
In BELT, 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 Cascade 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 BELT, 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 BELT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59412 has the highest and lowest median tax bill, both at $1837.
Average Belt Assessed Value
$247,150
Average Cascade County Assessed Value
$238,100
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59412 | $51,222 | $147,432 | $247,150 | $371,939 | $580,579 |
Source: Ownwell
Property Tax Bills Across Belt, Montana
In BELT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the property tax rate, set by local taxing authorities, is applied. This rate in Cascade County is compared to the national median property tax rate of 0.99%. Homeowners in BELT can expect varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is around $1,014, while those in the 75th percentile pay approximately $2,614. At the 90th percentile, the tax bill can reach up to $3,961. The highest median tax bill in the area is $1,837, which is consistent across the zip code 59412. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Belt Tax Bill
$1,837
Average Cascade County Tax Bill
$2,346
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Belt, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59412 | $343 | $1,014 | $1,837 | $2,614 | $3,961 |
Source: Ownwell