Cut Bank, Montana Property Taxes
The median property tax rate in Cut Bank, MT is 1.24%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Cut Bank at $125,314, the typical annual property tax bill reaches $1,452, which is still below the national median of $2,690. Property taxes in Cut Bank are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cut Bank'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 Cut Bank 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
Cut Bank, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,554
$1,442
Ownwell’s Cut Bank Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cut Bank with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cut Bank 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 Cut Bank, Montana
Property taxes in Cut Bank, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cut Bank is 1.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cut Bank set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cut Bank 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 Cut Bank's effective property tax rate to other counties in Montana and the national median. For comparison, the 59427 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Cut Bank provides valuable insights into the varying tax landscape across Glacier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cut Bank Tax Rate
1.24%
Average Glacier County Tax Rate
1.19%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cut Bank, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59427 | 0.84% | 0.96% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Cut Bank, Montana
In Cut Bank, 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 Glacier 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 Cut Bank, 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 Cut Bank helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,452, found in zip code 59427.
Average Cut Bank Assessed Value
$125,314
Average Glacier County Assessed Value
$123,548
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cut Bank, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59427 | $23,243 | $66,300 | $125,314 | $190,425 | $291,428 |
Source: Ownwell
Property Tax Bills Across Cut Bank, Montana
In Cut Bank, located in Glacier County, MT, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $125,314, homeowners might see varying tax bills based on specific assessments and exemptions. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. In Cut Bank, the tax bill can range significantly, with the 25th percentile at $765 and the 90th percentile reaching up to $3,066. The highest median tax bill recorded in the area is $1,452, which is still below the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, infrastructure, and emergency services. Homeowners in Cut Bank benefit from relatively moderate property tax rates, which can impact their overall cost of living and financial planning.
Average Cut Bank Tax Bill
$1,452
Average Glacier County Tax Bill
$1,402
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Cut Bank, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59427 | $229 | $765 | $1,452 | $2,154 | $3,066 |
Source: Ownwell