Manhattan, Montana Property Taxes
The median property tax rate in Manhattan, MT is 0.80%, slightly lower than the state median of 0.83% but still below the national median of 0.99%. With a median home value of $561,800, the typical annual property tax bill in Manhattan reaches $4,367, significantly higher than the national median of $2,690. Property taxes in Manhattan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Manhattan'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 Manhattan 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
Manhattan, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$4,494
$4,171
Ownwell’s Manhattan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manhattan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manhattan 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 Manhattan, Montana
Property taxes in Manhattan, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manhattan is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Manhattan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manhattan 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 Manhattan's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59741 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Manhattan provides valuable insights into the varying tax landscape across Gallatin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manhattan Tax Rate
0.80%
Average Gallatin County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manhattan, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59741 | 0.70% | 0.70% | 0.80% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Manhattan, Montana
In Manhattan, 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 Gallatin 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 Manhattan, 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 Manhattan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Manhattan are both $4,367, found in the 59741 zip code.
Average Manhattan Assessed Value
$561,800
Average Gallatin County Assessed Value
$644,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manhattan, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59741 | $142,800 | $422,050 | $561,800 | $790,050 | $1,080,334 |
Source: Ownwell
Property Tax Bills Across Manhattan, Montana
In Manhattan, Gallatin County, MT, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is a percentage of the market value, determined by the county assessor. For instance, with a median home price of $561,800, homeowners can expect their tax bill to vary significantly. Factors such as property size, location, and condition influence the assessed value. Tax rates are applied to this value to calculate the tax bill. In Manhattan, the 25th percentile tax bill is $3,305, while the 75th percentile reaches $6,070, and the 90th percentile can be as high as $8,217. These property taxes fund essential services like schools, infrastructure, and emergency services, directly impacting homeowners. Comparatively, the national median property tax rate is 0.99%, which can help homeowners understand how their local taxes measure up against the national average. This system ensures that property taxes are proportionate to the value of the home and the services provided.
Average Manhattan Tax Bill
$4,367
Average Gallatin County Tax Bill
$5,055
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Manhattan, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59741 | $1,178 | $3,305 | $4,367 | $6,070 | $8,217 |
Source: Ownwell