Jefferson City, Montana Property Taxes
The median property tax rate in Jefferson City, MT is 0.69%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Jefferson City at $416,438, the typical annual property tax bill reaches $2,826, slightly above the national median of $2,690. Property taxes in Jefferson City 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 Jefferson City'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 Jefferson City 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
Jefferson City, 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 Jefferson City Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jefferson City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson City 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 Jefferson City, Montana
Property taxes in Jefferson City, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson City is 0.69%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Jefferson City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson City 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 Jefferson City's effective property tax rate to other counties in Montana and the national median. For comparison, the 59638 zip code has the highest median property tax rate of 0.69%, while the same 59638 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Jefferson City provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson City Tax Rate
0.69%
Average Jefferson County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59638 | 0.63% | 0.65% | 0.69% | 0.72% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson City, Montana
In Jefferson City, 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 local 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 Jefferson City, 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 Jefferson City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Jefferson City’s zip code 59638 has the highest and lowest median tax bill at $2,826.
Property Tax Assessment Values Across Jefferson City, Montana
Source: Ownwell
$144,667
$349,492
$554,316
Average Jefferson City Assessed Value
$416,438
Average Jefferson County Assessed Value
$377,859
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59638 | $46,538 | $152,179 | $416,438 | $597,043 | $725,420 |
Source: Ownwell
Property Tax Bills Across Jefferson City, Montana
In Jefferson City, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and condition play a significant role in the assessed value. In Jefferson City, the median home price is $416,438, and property tax bills can vary significantly. The tax bill at the 25th percentile is $1,264, while at the 75th percentile, it rises to $4,043. For those at the 90th percentile, the tax bill can reach up to $4,932. These property taxes contribute to local services such as schools, public safety, and infrastructure, directly impacting homeowners by funding essential community resources. Homeowners in Jefferson City experience a range of tax obligations, reflecting the diverse property values within the area.
Average Jefferson City Tax Bill
$2,826
Average Jefferson County Tax Bill
$2,698
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson City, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59638 | $544 | $1,264 | $2,826 | $4,043 | $4,932 |
Source: Ownwell