Power, Montana Property Taxes
The median property tax rate in Power, MT is 0.70%, notably lower than both the national median of 0.99% and Montana's state median of 0.83%. With the median home value in Power, the typical annual property tax bill amounts to $117, significantly below the national median of $2,690. Property taxes in Power are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Power's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Power 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
Power, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s POWER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in POWER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in POWER 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 Power, Montana
Property taxes in POWER, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in POWER is 0.70%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within POWER set these rates annually, and they can vary significantly across different neighborhoods. Each year, POWER 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 POWER's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59468 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with POWER 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 Power Tax Rate
0.70%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Power, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59468 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Power, Montana
Understanding the difference between "market value" and "assessed value" is essential for grasping property taxes in Power, Montana. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors such as 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 Power, 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. For instance, the zip code 59468 in Power has both the highest and lowest median tax bill, each at $117. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Power Assessed Value
$16,680
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 Power, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59468 | $16,680 | $16,680 | $16,680 | $16,680 | $16,680 |
Source: Ownwell
Property Tax Bills Across Power, Montana
In Power, located in Chouteau County, MT, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $16,680, which significantly influences the property tax amount. The tax rate applied to this assessed value is determined by local government regulations and can vary depending on specific municipal needs and budgets. For homeowners in Power, the property tax bill consistently falls around $117, as indicated by the 25th, 75th, and 90th percentiles. This uniform tax bill reflects a stable and predictable property tax environment, which can be beneficial for budgeting and financial planning. Compared to the national median property tax rate of 0.99%, the property tax rate in Power is relatively low. Factors such as property improvements, changes in market conditions, and local government budgets can also impact the assessed value and, consequently, the property tax bill. Homeowners should stay informed about these factors to better understand potential changes in their tax obligations.
Average Power Tax Bill
$117
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Power, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59468 | $117 | $117 | $117 | $117 | $117 |
Source: Ownwell