Philipsburg, Montana Property Taxes
The median property tax rate in Philipsburg, MT is 0.61%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Philipsburg at $285,794, the typical annual property tax bill reaches $1,795, significantly below the national median of $2,690. Property taxes in Philipsburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Philipsburg'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 Philipsburg 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
Philipsburg, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Philipsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Philipsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Philipsburg 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 Philipsburg, Montana
Property taxes in Philipsburg, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philipsburg is 0.61%, significantly lower than the U.S. national median of 0.99%. Local government entities within Philipsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philipsburg 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 Philipsburg's effective property tax rate to other counties in Montana and the national median. For comparison, the 59858 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Philipsburg 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 Philipsburg Tax Rate
0.61%
Average Granite County Tax Rate
0.61%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Philipsburg, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59858 | 0.50% | 0.53% | 0.61% | 0.66% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Philipsburg, Montana
In Philipsburg, 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 Philipsburg, 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. The median home price in Philipsburg is $285,794, with tax bills ranging from $1,066 at the 25th percentile to $4,017 at the 90th percentile. The highest and lowest median tax bill, both $1,795, are found in the 59858 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Philipsburg Assessed Value
$285,794
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 Philipsburg, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59858 | $68,344 | $160,475 | $285,794 | $466,300 | $712,054 |
Source: Ownwell
Property Tax Bills Across Philipsburg, Montana
In Philipsburg, located in Granite County, MT, property tax bills are calculated based on the assessed value of the home. The process begins with local assessors determining the market value of a property, which is then multiplied by the assessment ratio to find the assessed value. This assessed value is then subjected to the local tax rate to calculate the annual property tax bill. For example, homeowners in Philipsburg with a median home price of $285,794 can expect varying tax bills. The 25th percentile tax bill is around $1,066, while those at the 75th percentile might pay approximately $2,738. At the 90th percentile, tax bills can reach up to $4,017. These property taxes fund essential public services such as schools, road maintenance, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Philipsburg's property tax rates can be considered moderate, ensuring homeowners contribute fairly to local infrastructure and services.
Average Philipsburg Tax Bill
$1,795
Average Granite County Tax Bill
$1,936
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Philipsburg, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59858 | $506 | $1,066 | $1,795 | $2,738 | $4,017 |
Source: Ownwell