Monarch, Montana Property Taxes
The median property tax rate in Monarch, MT is 0.46%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Monarch, the typical annual property tax bill reaches $60, significantly below the national median of $2,690. Property taxes in Monarch 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 Monarch'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 Monarch or another part of Judith Basin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Monarch, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$59
Ownwell’s Monarch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monarch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monarch 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 Monarch, Montana
Property taxes in Monarch, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monarch is 0.46%, which is lower than the U.S. national median of 0.99%. Local government entities within Monarch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monarch 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 Monarch's effective property tax rate to other areas in Judith Basin County and the national median. For comparison, the zip code 59463 has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Monarch 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 Monarch Tax Rate
0.46%
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 Monarch, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59463 | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Monarch, Montana
In Monarch, 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 Monarch, 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 Monarch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Monarch Assessed Value
$12,830
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 Monarch, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59463 | $12,830 | $12,830 | $12,830 | $12,830 | $12,830 |
Source: Ownwell
Property Tax Bills Across Monarch, Montana
In Monarch, located in Judith Basin County, MT, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Monarch, the median home price is $12,830, which is considerably lower than the national median. This lower home value results in relatively modest property tax bills compared to other regions. The tax bill in Monarch is notably consistent, with the 25th, 75th, and 90th percentiles all at $60. This uniformity indicates a stable and predictable tax environment for homeowners. Factors such as property improvements, changes in market conditions, and local budgetary needs can influence the assessed value and, consequently, the tax bill. However, the current data suggests minimal variation in property tax amounts, providing financial predictability for residents. This stability can be a significant advantage for homeowners, allowing them to budget more effectively and avoid unexpected increases in their property tax obligations.
Average Monarch Tax Bill
$60
Average Judith Basin County Tax Bill
$694
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Monarch, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59463 | $60 | $60 | $60 | $60 | $60 |
Source: Ownwell