Fairfield, Montana Property Taxes
The median property tax rate in Fairfield, MT is 0.90%, slightly below the national median of 0.99% but higher than Montana's state median of 0.83%. With the median home value in Fairfield, the typical annual property tax bill reaches $2,728, which is just under the national median of $2,690. Property taxes in Fairfield 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 Fairfield'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 Fairfield 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
Fairfield, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$2,166
Ownwell’s Fairfield Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Fairfield using just two key pieces of information. By inputting your property's estimated assessed value, the calculator leverages the median tax rate in Fairfield to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. 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, taking into account any applicable exemptions.
Property Tax Rates Across Fairfield, Montana
Property taxes in Fairfield, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59436 has the highest median property tax rate of 0.90%, while the zip code 59436 also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Fairfield 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 Fairfield Tax Rate
0.90%
Average Cascade County Tax Rate
1.00%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59436 | 0.45% | 0.86% | 0.90% | 1.00% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Montana
In Fairfield, 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 Fairfield, 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. The highest median tax bill in Fairfield is found in zip code 59436, amounting to $2,728. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfield Assessed Value
$240,681
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 Fairfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59436 | $26,760 | $47,700 | $240,681 | $303,700 | $334,120 |
Source: Ownwell
Property Tax Bills Across Fairfield, Montana
In Fairfield, 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 a percentage of the market value of the property. The tax rate, often referred to as the mill rate, is then applied to this assessed value to calculate the annual property tax bill. For example, with a median home price of $240,681, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is around $110, while at the 75th percentile, it rises to $2,966. The 90th percentile sees tax bills as high as $3,306. Several factors influence these tax bills, including changes in property values, local government budgets, and specific tax rates set by the city and county. Homeowners in Fairfield benefit from understanding these factors, as they directly affect their annual financial obligations. Compared to the national median property tax rate of 0.99%, Fairfield's rates can vary significantly, impacting how much homeowners need to budget for their property taxes each year.
Average Fairfield Tax Bill
$2,728
Average Cascade County Tax Bill
$2,346
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59436 | $93 | $110 | $2,728 | $2,966 | $3,306 |
Source: Ownwell