Willow Creek, Gallatin County, Montana Property Taxes
The median property tax rate in Willow Creek, MT is 0.66%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $365,250 in Willow Creek, the typical annual property tax bill amounts to $2,454, falling below the national median of $2,690. Property taxes in Willow Creek are calculated based on the assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Gaining a thorough understanding of Willow Creek's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you reside in the heart of Willow Creek or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Willow Creek, Gallatin County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,411
$2,237
Ownwell’s Willow Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willow Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willow Creek 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 Willow Creek, Gallatin County, Montana
Property taxes in Willow Creek, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willow Creek is 0.66%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Willow Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow Creek 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 Willow Creek's effective property tax rate to other counties in Montana and the national median. For comparison, the 59760 zip code has the highest median property tax rate of 0.66%, while the 59760 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Willow Creek 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 Willow Creek Tax Rate
0.66%
Average Gallatin County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willow Creek, Gallatin County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59760 | 0.66% | 0.66% | 0.66% | 0.66% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Willow Creek, Gallatin County, Montana
In Willow Creek, 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 Willow Creek, 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 Willow Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59760 has both the highest and lowest median tax bill at $2,454, providing a benchmark for property owners in the area.
Property Tax Assessment Values Across Willow Creek, Gallatin County, Montana
Source: Ownwell
$365,250
$864,725
$1,364,200
Average Willow Creek Assessed Value
$365,250
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 Willow Creek, Gallatin County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59760 | $62,368 | $214,237 | $365,250 | $566,700 | $722,561 |
Source: Ownwell
Property Tax Bills Across Willow Creek, Gallatin County, Montana
In Willow Creek, located in Gallatin County, MT, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. Homeowners in Willow Creek experience a range of property tax bills, with the 25th percentile paying around $1,298 annually and the 75th percentile facing bills of approximately $3,633. For those in the 90th percentile, the tax bill can reach up to $4,840. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The median home price in Willow Creek is $365,250, which means that many homeowners' tax bills are influenced by this valuation. Compared to the national median property tax rate of 0.99%, Willow Creek's property taxes can vary significantly, affecting homeowners' annual financial planning. The highest median tax bill in the area is $2,454, highlighting the variability within the region.
Average Willow Creek Tax Bill
$2,454
Average Gallatin County Tax Bill
$5,055
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Willow Creek, Gallatin County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59760 | $426 | $1,298 | $2,454 | $3,633 | $4,840 |
Source: Ownwell