Fort Benton, Montana Property Taxes
The median property tax rate in Fort Benton, MT is 1.15%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Fort Benton at $174,250, the typical annual property tax bill reaches $1,950, which, while below the national median of $2,690, can still be a significant expense for homeowners. Property taxes in Fort Benton 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 Fort Benton'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 Fort Benton 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
Fort Benton, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,004
$1,860
Ownwell’s FORT BENTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT BENTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT BENTON 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 Fort Benton, Montana
Property taxes in Fort Benton, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Benton is 1.15%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fort Benton set these rates annually, and they can vary across different neighborhoods. Each year, Fort Benton 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 Fort Benton's effective property tax rate to other areas and the national median. For comparison, the zip code 59442 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these figures compare with Fort Benton provides valuable insights into the varying tax landscape across Chouteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Benton Tax Rate
1.15%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Benton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59442 | 0.72% | 0.98% | 1.15% | 1.22% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Fort Benton, Montana
In Fort Benton, 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 Chouteau 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 Fort Benton, 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 Fort Benton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 59442, with a median tax bill of $1,950.
Average Fort Benton Assessed Value
$174,250
Average Chouteau County Assessed Value
$152,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Benton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59442 | $51,271 | $104,100 | $174,250 | $251,600 | $355,422 |
Source: Ownwell
Property Tax Bills Across Fort Benton, Montana
In Fort Benton, located in Chouteau County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. For homeowners in Fort Benton, the median home price is $174,250. Property tax bills can vary significantly; the 25th percentile tax bill is $1,170, while the 75th percentile reaches $2,740, and the 90th percentile can be as high as $3,650. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Fort Benton might find their tax bills higher or lower depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Fort Benton's tax bills reflect the unique economic and real estate conditions of the area, impacting homeowners' annual financial planning.
Average Fort Benton Tax Bill
$1,950
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Benton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59442 | $635 | $1,170 | $1,950 | $2,740 | $3,650 |
Source: Ownwell