Canyon Creek, Montana Property Taxes
The median property tax rate in Canyon Creek, MT is 0.74%, 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 Canyon Creek at $253,900, the typical annual property tax bill amounts to $1,958, falling below the national median of $2,690. Property taxes in Canyon Creek are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Canyon Creek'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 Canyon Creek 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
Canyon Creek, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,879
$1,744
Ownwell’s Canyon Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canyon Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canyon Creek 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 Canyon Creek, Montana
Property taxes in Canyon Creek, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canyon Creek is 0.74%, lower than the U.S. national median of 0.99%. Local government entities within Canyon Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canyon Creek 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 Canyon Creek's effective property tax rate to other counties in Montana and the national median. For comparison, the 59633 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Canyon Creek provides valuable insights into the varying tax landscape across Lewis and Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canyon Creek Tax Rate
0.74%
Average Lewis And Clark County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canyon Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59633 | 0.66% | 0.74% | 0.74% | 0.77% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Canyon Creek, Montana
In Canyon Creek, 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 Lewis and Clark 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 Canyon Creek, 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 Canyon Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 59633, with a median bill of $1958, while the lowest is also 59633, with the same median bill of $1958.
Average Canyon Creek Assessed Value
$253,900
Average Lewis And Clark County Assessed Value
$345,065
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canyon Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59633 | $85,734 | $179,693 | $253,900 | $396,402 | $608,860 |
Source: Ownwell
Property Tax Bills Across Canyon Creek, Montana
In Canyon Creek, Lewis and Clark County, MT, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in this area is $253,900. To determine your tax bill, the assessed value of your property is multiplied by the local tax rate. Several factors influence this calculation, including the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners in Canyon Creek, the tax bill can vary significantly. The 25th percentile tax bill stands at $1,318, while the 75th percentile reaches up to $2,953. For those in the 90th percentile, the tax bill can be as high as $4,567. These variations can affect homeowners differently, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, rates in Canyon Creek can lead to substantial differences in annual tax obligations, impacting household budgets and financial planning.
Average Canyon Creek Tax Bill
$1,958
Average Lewis And Clark County Tax Bill
$3,454
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Canyon Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59633 | $612 | $1,318 | $1,958 | $2,953 | $4,567 |
Source: Ownwell