Eureka, Montana Property Taxes
The median property tax rate in Eureka, MT is 0.59%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Eureka, the typical annual property tax bill reaches $2,040, which is below the national median of $2,690. Property taxes in Eureka 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 Eureka'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 Eureka 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
Eureka, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,909
$1,772
Ownwell’s Eureka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eureka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eureka 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 Eureka, Montana
Property taxes in Eureka, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eureka is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Eureka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eureka 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 Eureka's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59917 has the highest median property tax rate of 0.59%, while it also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Eureka provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eureka Tax Rate
0.59%
Average Lincoln County Tax Rate
0.68%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eureka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59917 | 0.51% | 0.59% | 0.59% | 0.62% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Eureka, Montana
In Eureka, 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 Lincoln 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 Eureka, 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 Eureka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 59917, with a median tax bill of $2040.
Average Eureka Assessed Value
$323,638
Average Lincoln County Assessed Value
$263,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eureka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59917 | $39,602 | $181,898 | $323,638 | $486,938 | $673,020 |
Source: Ownwell
Property Tax Bills Across Eureka, Montana
In Eureka, located in Lincoln County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors influencing the tax bill include the home's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners in Eureka, the tax burden can vary significantly. The median home price in the area is $323,638, with property tax bills ranging from $1,180 at the 25th percentile to $2,931 at the 75th percentile. The 90th percentile sees tax bills as high as $3,985. Comparatively, the national median property tax rate is 0.99%, making Eureka's property tax rates competitive depending on the assessed value of the property. This variability in property tax bills affects homeowners by influencing their overall housing costs and financial planning. Understanding these factors can help homeowners anticipate their tax liabilities and manage their budgets more effectively.
Average Eureka Tax Bill
$2,040
Average Lincoln County Tax Bill
$1,776
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Eureka, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59917 | $294 | $1,180 | $2,040 | $2,931 | $3,985 |
Source: Ownwell