Shonkin, Montana Property Taxes
The median property tax rate in Shonkin, MT is 1.04%, slightly higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Shonkin, the typical annual property tax bill reaches $1,865, which is below the national median of $2,690. Property taxes in Shonkin 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 Shonkin'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 Shonkin 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
Shonkin, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,073
$1,924
Ownwell’s Shonkin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shonkin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shonkin 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 Shonkin, Montana
Property taxes in Shonkin, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shonkin is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Shonkin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shonkin 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 Shonkin's effective property tax rate to other areas and the national median. For comparison, the zip code 59450 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Shonkin 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 Shonkin Tax Rate
1.04%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shonkin, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | 0.57% | 0.64% | 1.04% | 1.29% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Shonkin, Montana
In Shonkin, 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 Shonkin, 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 Shonkin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Shonkin’s highest and lowest median tax bills are both $1,865, found in the 59450 zip code.
Average Shonkin Assessed Value
$199,340
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 Shonkin, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | $41,436 | $81,307 | $199,340 | $308,026 | $376,853 |
Source: Ownwell
Property Tax Bills Across Shonkin, Montana
In Shonkin, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. For instance, with a median home price of $199,340, the assessed value is used to calculate the tax bill. The tax rate in Shonkin, part of Chouteau County, influences the final amount homeowners pay. Factors such as property improvements and market trends can affect the assessed value, thereby impacting the tax bill. Homeowners in Shonkin can expect tax bills to vary significantly. For example, the tax bill at the 25th percentile is around $1,167, while at the 75th percentile, it reaches approximately $3,127. The highest tax bills, at the 90th percentile, can go up to $4,455. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly affecting the community's quality of life. By understanding these factors, homeowners can better anticipate their property tax responsibilities and plan accordingly.
Average Shonkin Tax Bill
$1,865
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Shonkin, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59450 | $392 | $1,167 | $1,865 | $3,127 | $4,455 |
Source: Ownwell