Judith Gap, Montana Property Taxes
The median property tax rate in Judith Gap, MT is 0.44%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Judith Gap at $338,347, the typical annual property tax bill reaches $1,504, significantly below the national median of $2,690. Property taxes in Judith Gap 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 Judith Gap'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 Judith Gap 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
Judith Gap, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,489
Ownwell’s Judith Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Judith Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Judith Gap 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 Judith Gap, Montana
Property taxes in Judith Gap, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Judith Gap is 0.44%, significantly lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Judith Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Judith Gap 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 Judith Gap's effective property tax rate to other areas in Montana and the national median. For comparison, the 59453 zip code has both the highest and lowest median property tax rate of 0.44%. Understanding how these areas compare with Judith Gap provides valuable insights into the varying tax landscape across Judith Basin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Judith Gap Tax Rate
0.44%
Average Judith Basin County Tax Rate
0.56%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Judith Gap, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | 0.43% | 0.44% | 0.44% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Judith Gap, Montana
In Judith Gap, 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 Judith Basin 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 Judith Gap, 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 Judith Gap is $338,347, with tax bills ranging from $1,331 at the 25th percentile to $2,424 at the 90th percentile. The highest and lowest median tax bills, both at $1,504, are found in zip code 59453. 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 Judith Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Judith Gap Assessed Value
$338,347
Average Judith Basin County Assessed Value
$105,348
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Judith Gap, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | $282,629 | $303,524 | $338,347 | $461,849 | $535,950 |
Source: Ownwell
Property Tax Bills Across Judith Gap, Montana
In Judith Gap, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. For example, with a median home price of $338,347, the assessed value is then multiplied by the local tax rate to determine the tax bill. Several factors are considered, including property size, location, and any improvements made to the property. Tax bills can vary significantly; for instance, the 25th percentile tax bill is $1,331, while the 75th percentile tax bill is $2,079. At the 90th percentile, homeowners might see bills as high as $2,424. These property taxes fund essential services such as public schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Judith Gap experience relatively similar tax burdens, impacting their overall cost of living and financial planning.
Average Judith Gap Tax Bill
$1,504
Average Judith Basin County Tax Bill
$694
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Judith Gap, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | $1,227 | $1,331 | $1,504 | $2,079 | $2,424 |
Source: Ownwell