Richey, Dawson County, Montana Property Taxes
The median property tax rate in Richey, MT is 0.98%, closely aligning with the national median of 0.99% and higher than the Montana state median of 0.83%. With a median home value of $69,100 in Richey, the typical annual property tax bill amounts to $697, which is significantly lower than the national median of $2,690. Property taxes in Richey are calculated based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Richey’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 Richey or another part of Dawson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Richey, Dawson County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$677
$628
Ownwell’s Richey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richey 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 Richey, Dawson County, Montana
Property taxes in Richey, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richey is 0.98%, slightly lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Richey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richey 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 Richey's effective property tax rate to other counties in Montana and the national median. For comparison, the 59259 zip code has the highest median property tax rate of 0.98%, while the 59259 zip code also has the lowest median tax rate of 0.98%. Understanding how these cities compare with Richey 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 Richey 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 Richey, Dawson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59259 | 0.82% | 0.95% | 0.98% | 0.98% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Richey, Dawson County, Montana
In Richey, 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 Richey, 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 Richey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Richey are both $697, found in zip code 59259.
Property Tax Assessment Values Across Richey, Dawson County, Montana
Source: Ownwell
$69,100
$121,806
$174,511
Average Richey Assessed Value
$69,100
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 Richey, Dawson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59259 | $11,808 | $32,650 | $69,100 | $143,025 | $226,605 |
Source: Ownwell
Property Tax Bills Across Richey, Dawson County, Montana
Property tax bills in Richey, located in Dawson County, MT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. In Richey, the median home price is $69,100, which serves as a baseline for calculating property taxes. The local tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. Homeowners in Richey experience a range of property tax bills, with the 25th percentile at $384 and the 75th percentile at $1329. The highest median tax bill in the area is $697, which is notably lower than the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Richey anticipate their property tax obligations and manage their financial planning effectively.
Average Richey Tax Bill
$697
Average Dawson County Tax Bill
$1,948
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Richey, Dawson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59259 | $144 | $384 | $697 | $1,329 | $1,992 |
Source: Ownwell