Ravalli, Montana Property Taxes
The median property tax rate in Ravalli, MT is 0.69%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $268,800 in Ravalli, the typical annual property tax bill is around $1,855, which is less than the national median of $2,690. Property taxes in Ravalli are based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Ravalli's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ravalli or another part of the county, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravalli, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$572
Ownwell’s Ravalli Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravalli with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravalli 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 Ravalli, Montana
Property taxes in Ravalli, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravalli is 0.71%, lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Ravalli set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravalli 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 Ravalli's effective property tax rate to other counties in Montana and the national median. For comparison, the 59870 zip code has the highest median property tax rate of 0.71%, while the 59870 zip code has the lowest median tax rate of 0.71%. Understanding how these areas compare with Ravalli provides valuable insights into the varying tax landscape across Ravalli County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravalli Tax Rate
0.80%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravalli, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59863 | 0.61% | 0.76% | 0.80% | 0.86% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Ravalli, Montana
In Ravalli, 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 Ravalli, 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 Ravalli helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area, $1,392, is found in the 59863 zip code, while the lowest median tax bill is also $1,392 in the same zip code.
Average Ravalli Assessed Value
$71,466
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravalli, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59863 | $3,720 | $7,150 | $71,466 | $209,650 | $310,958 |
Source: Ownwell
Property Tax Bills Across Ravalli, Montana
In Ravalli, MT, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local government and represents a percentage of the property's market value. Factors such as location, property size, and improvements can influence this assessed value. Once the assessed value is established, the tax rate, which is set by local taxing authorities, is applied to calculate the annual tax bill. Homeowners in Ravalli can expect property tax bills that vary significantly. For example, the 25th percentile tax bill is $838, while the 75th percentile reaches $2,068, and the 90th percentile peaks at $2,585. This range demonstrates the variability in tax burdens depending on property values and specific local rates. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Ravalli's tax rates might impact homeowners. High property taxes can affect affordability and the overall cost of owning a home, making it essential for homeowners to be aware of their local tax obligations.
Average Ravalli Tax Bill
$1,392
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravalli, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59863 | $210 | $838 | $1,392 | $2,068 | $2,585 |
Source: Ownwell