Three Forks, Jefferson County, Montana Property Taxes
The median property tax rate in Three Forks, MT is 0.65%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Three Forks at $554,316, the typical annual property tax bill reaches $3,644, which is higher than the national median of $2,690. Property taxes in Three Forks 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 Three Forks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Three Forks 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
Three Forks, Jefferson County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$3,603
$3,344
Ownwell’s Three Forks Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Three Forks using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Three Forks to provide an estimate of your property tax bill. This practical tool helps you comprehend potential tax liabilities. For those interested in exploring trends at a neighborhood level, more localized information is available further down the page. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Three Forks, Jefferson County, Montana
Property taxes in Three Forks, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Three Forks is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Three Forks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Three Forks 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 Three Forks' effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59752 has the same median property tax rate of 0.65%. Understanding how these areas compare with Three Forks 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 Three Forks Tax Rate
0.65%
Average Jefferson County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Three Forks, Jefferson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59752 | 0.62% | 0.64% | 0.65% | 0.69% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Three Forks, Jefferson County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Three Forks, 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 Jefferson 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. Assessment notices in Three Forks 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. In Three Forks, the median home price is $554,316, with the 25th percentile tax bill at $2,485 and the 75th percentile tax bill at $4,556. Both the highest and lowest median tax bills are $3,644, found in the 59752 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Three Forks, Jefferson County, Montana
Source: Ownwell
$144,667
$349,492
$554,316
Average Three Forks Assessed Value
$554,316
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 Three Forks, Jefferson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59752 | $171,744 | $331,578 | $554,316 | $685,909 | $904,353 |
Source: Ownwell
Property Tax Bills Across Three Forks, Jefferson County, Montana
In Three Forks, Jefferson County, MT, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. Various factors such as property size, location, and improvements contribute to this valuation. Homeowners in Three Forks can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $2,485, while at the 75th percentile, it rises to approximately $4,556. At the 90th percentile, it can reach up to $5,814. These tax bills are influenced by local tax rates and the specific assessments for each property. The median home price in Three Forks is $554,316, and understanding these factors can help homeowners anticipate their annual tax obligations. With the national median property tax rate at 0.99%, homeowners in Three Forks should consider how local assessments and rates compare to national averages, impacting their overall financial planning.
Average Three Forks Tax Bill
$3,644
Average Jefferson County Tax Bill
$2,698
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Three Forks, Jefferson County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59752 | $1,630 | $2,485 | $3,644 | $4,556 | $5,814 |
Source: Ownwell