Bloomfield, Montana Property Taxes
The median property tax rate in Bloomfield, MT is 0.83%, which aligns with the state median but is notably lower than the national median of 0.99%. With the median home value in Bloomfield, the typical annual property tax bill reaches $1,317, significantly below the national median of $2,690. Property taxes in Bloomfield 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 Bloomfield'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 Bloomfield 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
Bloomfield, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,235
$1,146
Ownwell’s Bloomfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Bloomfield. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Bloomfield to provide an accurate estimate of your property tax bill. This valuable resource helps you anticipate potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Bloomfield, Montana
Property taxes in Bloomfield, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomfield is 0.83%, which is lower than both the Montana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomfield 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 Bloomfield's effective property tax rate to other counties in Montana and the national median. For comparison, the 59315 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Bloomfield provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomfield Tax Rate
0.83%
Average Dawson County Tax Rate
1.38%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59315 | 0.69% | 0.75% | 0.83% | 0.93% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Bloomfield, Montana
In Bloomfield, 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 Dawson 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 Bloomfield, 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. For example, the median home price in Bloomfield is $148,840, with tax bills ranging from $789 at the 25th percentile to $2,736 at the 90th percentile. The highest and lowest median tax bills are both $1,317 in the 59315 zip code. 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 Bloomfield Assessed Value
$148,840
Average Dawson County Assessed Value
$135,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59315 | $42,071 | $94,538 | $148,840 | $230,680 | $293,667 |
Source: Ownwell
Property Tax Bills Across Bloomfield, Montana
In Bloomfield, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Factors such as changes in the real estate market, property improvements, and local budgetary needs can influence the assessed value and, consequently, the tax bill. For instance, the median home price in Bloomfield is $148,840. Homeowners in the 25th percentile pay around $789 in property taxes, while those in the 75th percentile see bills of approximately $2,021. The top 10% of property tax bills in the area can reach up to $2,736. These property tax bills directly affect homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Bloomfield's tax levels provide a crucial source of funding for essential community services.
Average Bloomfield Tax Bill
$1,317
Average Dawson County Tax Bill
$1,948
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomfield, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59315 | $320 | $789 | $1,317 | $2,021 | $2,736 |
Source: Ownwell