Sun River, Montana Property Taxes
The median property tax rate in Sun River, MT is 0.94%, slightly below the national median of 0.99% yet higher than Montana's state median of 0.83%. With the median home value in Sun River at $216,630, the typical annual property tax bill reaches $2,365, which is below the national median of $2,690. Property taxes in Sun River are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sun River'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 Sun River 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
Sun River, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,036
$1,890
Ownwell’s Sun River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sun River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sun River 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 Sun River, Montana
Property taxes in Sun River, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sun River is 0.72%, notably lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Sun River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sun River 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 Sun River's effective property tax rate to other counties in Montana and the national median. For comparison, the 59483 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Sun River 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 Sun River Tax Rate
0.94%
Average Cascade County Tax Rate
1.00%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sun River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59483 | 0.84% | 0.89% | 0.94% | 1.08% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Sun River, Montana
In Sun River, 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 Sun River, 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. The median home price in Sun River is $216,630, with tax bills ranging from $1,171 at the 25th percentile to $4,562 at the 90th percentile. The zip code with the highest median tax bill is 59483, amounting to $2,365, which is also the lowest median tax bill in the area. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sun River Assessed Value
$216,630
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 Sun River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59483 | $25,610 | $112,140 | $216,630 | $325,964 | $434,560 |
Source: Ownwell
Property Tax Bills Across Sun River, Montana
In Sun River, located in Cascade County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Homeowners in Sun River can expect their tax bill to vary significantly depending on their property's assessed value and the specific rates set by local taxing authorities. For instance, the median home price in Sun River is $216,630. Property tax bills in this region can range widely, with the 25th percentile at $1,171 and the 75th percentile reaching $3,457. The 90th percentile sees tax bills as high as $4,562. These figures highlight the variability and underscore the importance of understanding how home value assessments and local tax rates impact overall tax obligations. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Sun River's rates stack up against broader trends. Homeowners should stay informed about their assessed values and any changes in local tax rates to manage their financial planning effectively.
Average Sun River Tax Bill
$2,365
Average Cascade County Tax Bill
$2,346
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Sun River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59483 | $360 | $1,171 | $2,365 | $3,457 | $4,562 |
Source: Ownwell