Teigen, Montana Property Taxes
The median property tax rate in Teigen, MT is 0.69%, noticeably lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $173,325 in Teigen, the typical annual property tax bill amounts to $1,154, which is below the national median of $2,690. Property taxes in Teigen are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Teigen'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 Teigen or another part of Fergus County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Teigen, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,196
$1,110
Ownwell’s Teigen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Teigen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Teigen 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 Teigen, Montana
Property taxes in Teigen, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Teigen is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Teigen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Teigen 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 Teigen's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59084 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Teigen provides valuable insights into the varying tax landscape across Fergus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Teigen Tax Rate
0.69%
Average Fergus County Tax Rate
0.99%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Teigen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59084 | 0.67% | 0.68% | 0.69% | 0.79% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Teigen, Montana
In Teigen, 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 Fergus 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 Teigen, 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 Teigen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,154 in the zip code 59084, which is also the lowest median tax bill.
Average Teigen Assessed Value
$173,325
Average Fergus County Assessed Value
$177,627
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Teigen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59084 | $94,239 | $123,896 | $173,325 | $179,162 | $182,665 |
Source: Ownwell
Property Tax Bills Across Teigen, Montana
In Teigen, located in Fergus County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Teigen is $173,325. To determine the tax bill, the assessed value is multiplied by the local tax rate, which is typically set by the county. For example, homeowners in Teigen can expect property tax bills to range from $909 at the 25th percentile to $1,215 at the 75th percentile, with the 90th percentile reaching up to $1,251. These tax bills are influenced by various factors including the home's assessed value, changes in the local tax rate, and any applicable exemptions. Higher property taxes can significantly impact homeowners by increasing the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Teigen's property taxes are relatively moderate. This balance helps maintain affordability while ensuring that essential local services are funded.
Average Teigen Tax Bill
$1,154
Average Fergus County Tax Bill
$1,787
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Teigen, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59084 | $762 | $909 | $1,154 | $1,215 | $1,251 |
Source: Ownwell