Gildford, Hill County, Montana Property Taxes
The median property tax rate in Gildford, MT is 0.80%, slightly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Gildford at $148,500, the typical annual property tax bill reaches $1,183, which falls below the national median of $2,690. Property taxes in Gildford 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 Gildford'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 Gildford 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
Gildford, Hill County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,188
$1,102
Ownwell’s GILDFORD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GILDFORD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GILDFORD 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 Gildford, Hill County, Montana
Property taxes in Gildford, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gildford is 0.80%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Gildford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gildford 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 Gildford's effective property tax rate to other counties in Montana and the national median. For comparison, the 59525 zip code 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 Gildford provides valuable insights into the varying tax landscape across Hill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gildford Tax Rate
0.80%
Average Hill County Tax Rate
1.13%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gildford, Hill County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59525 | 0.64% | 0.75% | 0.80% | 0.87% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Gildford, Hill County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gildford, Montana. 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 Hill 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 Gildford, 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 Gildford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Gildford is $1,183 in the 59525 zip code, while the lowest median tax bill is also $1,183 in the same zip code.
Property Tax Assessment Values Across Gildford, Hill County, Montana
Source: Ownwell
$82,600
$128,650
$174,700
Average Gildford Assessed Value
$148,500
Average Hill County Assessed Value
$169,254
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gildford, Hill County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59525 | $15,106 | $69,140 | $148,500 | $273,550 | $434,368 |
Source: Ownwell
Property Tax Bills Across Gildford, Hill County, Montana
In Gildford, Hill County, MT, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $148,500, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Tax bills in Gildford can range significantly, with the 25th percentile tax bill at $505, the 75th percentile at $2,135, and the 90th percentile reaching up to $3,359. These figures illustrate the impact of property taxes on homeowners, with higher-valued properties incurring higher tax bills. Comparing these values to the national median property tax rate of 0.99%, Gildford's tax rates can be considered moderate. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Gildford Tax Bill
$1,183
Average Hill County Tax Bill
$1,886
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Gildford, Hill County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59525 | $130 | $505 | $1,183 | $2,135 | $3,359 |
Source: Ownwell