Cameron, Madison County, Montana Property Taxes
The median property tax rate in Cameron, MT is 0.33%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Cameron, the typical annual property tax bill reaches $1,650, which is below the national median of $2,690. Property taxes in Cameron 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 Cameron'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 Cameron 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
Cameron, Madison County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$1,607
$1,491
Ownwell’s Cameron Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cameron, MT, using just two key data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Cameron to provide an estimate of 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 Cameron, Madison County, Montana
Property taxes in Cameron, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cameron is 0.68%, which is notably higher than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Cameron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cameron 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 Cameron's effective property tax rate to other counties in Montana and the national median. For comparison, the 59720 zip code has the highest median property tax rate of 0.83%, while the 59758 zip code has the lowest median tax rate of 0.68%. Understanding how these cities compare with Cameron provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cameron Tax Rate
0.33%
Average Madison County Tax Rate
0.36%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cameron, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59720 | 0.30% | 0.31% | 0.33% | 0.35% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Cameron, Madison County, Montana
In Cameron, 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 Madison 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 Cameron, 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 Cameron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59720 has the highest and lowest median tax bill, both at $1,650, providing a benchmark for property tax expectations in the area.
Property Tax Assessment Values Across Cameron, Madison County, Montana
Source: Ownwell
$214,600
$1,481,350
$2,748,100
Average Cameron Assessed Value
$487,026
Average Madison County Assessed Value
$483,557
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cameron, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59720 | $201,683 | $314,135 | $487,026 | $874,424 | $1,431,435 |
Source: Ownwell
Property Tax Bills Across Cameron, Madison County, Montana
In Cameron, located in Madison County, MT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $487,026, homeowners can expect varying tax bills depending on their property’s assessed value and the specific tax rate applied by the county. Several factors influence the final tax bill, including property location, improvements, and local tax levies. In Cameron, the 25th percentile tax bill is $1,105, while the 75th percentile tax bill reaches $2,815, and the 90th percentile can go up to $4,492. These variations highlight how different factors can significantly impact what homeowners ultimately pay. Compared to the national median property tax rate of 0.99%, Cameron’s tax bills reflect the local economic and policy conditions, affecting homeowners' financial planning and budget.
Average Cameron Tax Bill
$1,650
Average Madison County Tax Bill
$2,126
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Cameron, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59720 | $745 | $1,105 | $1,650 | $2,815 | $4,492 |
Source: Ownwell