Fallon, Montana Property Taxes
The median property tax rate in Fallon, MT is 0.98%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Fallon, the typical annual property tax bill reaches $149, significantly below the national median of $2,690. Property taxes in Fallon 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 Fallon'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 Fallon 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
Fallon, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$150
$139
Ownwell’s Fallon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fallon with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Fallon to project your property tax bill. This invaluable tool provides clarity on potential tax liabilities. If you’re curious about trends at the neighborhood level, scroll down for more localized information. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Fallon, Montana
Property taxes in Fallon, Montana, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Fallon is 0.65%, significantly lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Fallon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fallon 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 Fallon's effective property tax rate to other counties in Montana and the national median. For comparison, the highest median property tax rate in the state is found in 59001 with a rate of 1.27%, while the lowest median tax rate is in 59524 at 0.56%. Understanding how these areas compare with Fallon 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 Fallon Tax Rate
0.98%
Average Dawson County Tax Rate
1.38%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fallon, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59326 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Fallon, Montana
In Fallon, 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 local 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 Fallon, 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 Fallon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fallon are both $149, with the zip code 59326 reflecting this amount.
Average Fallon Assessed Value
$15,300
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 Fallon, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59326 | $15,300 | $15,300 | $15,300 | $15,300 | $15,300 |
Source: Ownwell
Property Tax Bills Across Fallon, Montana
In Fallon, located in Dawson County, MT, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Once the market value is established, it is multiplied by the assessment ratio to get the assessed value. This assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Fallon, the property tax rate is relatively low compared to the national median property tax rate of 0.99%. With a median home price of $15,300, homeowners can expect their tax bills to be quite modest. In fact, the median tax bill in Fallon is $149, which is consistent across the 25th, 75th, and 90th percentiles, indicating a uniformity in tax charges within the area. This low property tax burden can make homeownership more affordable, providing a financial advantage to residents in Fallon.
Average Fallon Tax Bill
$149
Average Dawson County Tax Bill
$1,948
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Fallon, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59326 | $149 | $149 | $149 | $149 | $149 |
Source: Ownwell