Fallon County, Montana Property Taxes
The median property tax rate in Fallon County is 0.69%, which is significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Fallon County, the typical annual property tax bill reaches $785, substantially below the national median of $2,690. Property taxes in Fallon County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Fallon County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Baker or another part of Fallon County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fallon County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$824
$764
Ownwell’s Fallon County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fallon County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Fallon County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Fallon County, Montana
Property taxes in Fallon County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Fallon County is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Fallon County set these rates annually, and they can vary significantly between different areas within the county. Each year, Fallon County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Fallon County's effective property tax rate with other counties in Montana and the national median. For comparison, the city of Baker has one of the higher property tax rates in Montana at 0.69%, while the city of Ismay boasts one of the lowest at 0.46%. Analyzing how Fallon County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Fallon County Tax Rate
0.69%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Fallon County, Montana
In Fallon County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Fallon County Appraisal District. The assessed value, however, 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. Assessment notices in Fallon County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Fallon County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Wibaux has the highest median tax bill at $1,258, while Plevna has the lowest at $454.
Average Fallon County Assessed Value
$119,362
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Bills Across Fallon County, Montana
In Fallon County, MT, 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. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's location, size, and condition, as well as comparable home sales in the area. For homeowners in Fallon County, the property tax bill can vary significantly. For instance, the 25th percentile tax bill is $351, meaning that 25% of homeowners pay less than this amount. On the higher end, the 75th percentile tax bill is $1,193, and the 90th percentile tax bill reaches $1,603. Comparatively, the highest median tax bill in the county is in Wibaux at $1,258, while the lowest is in Plevna at $454. These variations can significantly impact homeowners' financial planning and budget, making it crucial to understand how property taxes are determined.
Average Fallon County Tax Bill
$785
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690