Drummond, Montana Property Taxes
The median property tax rate in Drummond, MT is 0.68%, 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 $215,100 in Drummond, the typical annual property tax bill amounts to $1,793, significantly below the national median of $2,690. Property taxes in Drummond are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Drummond's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Drummond or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Drummond, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,463
Ownwell’s Drummond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drummond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drummond 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 Drummond, Montana
Property taxes in Drummond, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Drummond is 0.68%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Drummond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drummond 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 Drummond's effective property tax rate to other counties in Montana and the national median. For comparison, the 59832 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Drummond provides valuable insights into the varying tax landscape across Granite County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Drummond Tax Rate
0.68%
Average Granite County Tax Rate
0.61%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drummond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59832 | 0.54% | 0.62% | 0.68% | 0.89% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Drummond, Montana
In Drummond, 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 Granite 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 Drummond, 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 Drummond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Drummond is $1,793 in the 59832 zip code, while the lowest median tax bill is also $1,793 in the same zip code.
Average Drummond Assessed Value
$215,100
Average Granite County Assessed Value
$300,954
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drummond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59832 | $14,750 | $116,076 | $215,100 | $330,600 | $494,575 |
Source: Ownwell
Property Tax Bills Across Drummond, Montana
In Drummond, Granite County, MT, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Granite County, the median home price is $215,100, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $972, while the 75th percentile tax bill is $2,516, and the 90th percentile tax bill reaches $3,400. Several factors influence these tax bills, including property location, improvements, and market conditions. Homeowners in Drummond must consider these elements, as they directly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, property owners in Drummond may find their tax bills relatively manageable or burdensome, depending on their property's assessed value and specific tax rate. Understanding these factors can help homeowners better anticipate and plan for their property tax expenses.
Average Drummond Tax Bill
$1,793
Average Granite County Tax Bill
$1,936
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Drummond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59832 | $426 | $972 | $1,793 | $2,516 | $3,400 |
Source: Ownwell