Wolf Creek, Montana Property Taxes
The median property tax rate in Wolf Creek, MT is 0.64%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Wolf Creek at $287,800, the typical annual property tax bill amounts to $1,875, well below the national median of $2,690. Property taxes in Wolf Creek 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 Wolf 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 Wolf 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
Wolf Creek, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,842
Ownwell’s Wolf Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wolf Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolf 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 Wolf Creek, Montana
Property taxes in Wolf Creek, Montana, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolf Creek is 0.64%, lower than the U.S. national median of 0.99%. Local government entities within Wolf Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolf 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 Wolf Creek's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59648 has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Wolf 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 Wolf Creek Tax Rate
0.64%
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 Wolf Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59648 | 0.60% | 0.64% | 0.64% | 0.65% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Wolf Creek, Montana
In Wolf 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 Wolf 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. The median home price in Wolf Creek is $287,800, with the 25th percentile tax bill at $1,117 and the 75th percentile at $3,036. The highest and lowest median tax bills both stand at $1,875, specifically in the 59648 zip code. 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 Wolf Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wolf Creek Assessed Value
$287,800
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 Wolf Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59648 | $81,784 | $176,330 | $287,800 | $469,870 | $761,616 |
Source: Ownwell
Property Tax Bills Across Wolf Creek, Montana
In Wolf Creek, located in Lewis and Clark County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Wolf Creek experience a range of property tax bills. For instance, the 25th percentile tax bill is approximately $1,117, while the 75th percentile tax bill reaches around $3,036. At the higher end, the 90th percentile tax bill can go up to $4,903. These variations depend on factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Wolf Creek's property tax bills reflect the unique characteristics of the local real estate market. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Wolf Creek Tax Bill
$1,875
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 Wolf Creek, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59648 | $500 | $1,117 | $1,875 | $3,036 | $4,903 |
Source: Ownwell