Pony, Madison County, Montana Property Taxes
The median property tax rate in PONY, MT is 0.53%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in PONY, the typical annual property tax bill reaches $1,203, significantly below the national median of $2,690. Property taxes in PONY 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 PONY'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 PONY or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pony, Madison County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,187
$1,102
Ownwell’s PONY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PONY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PONY 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 Pony, Madison County, Montana
Property taxes in PONY, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in PONY is 0.53%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within PONY set these rates annually, and they can vary across different neighborhoods. Each year, PONY 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 PONY's effective property tax rate to other areas in Madison County and the national median. For comparison, the zip code 59747 has both the highest and lowest median property tax rate of 0.53%, identical to PONY's rate. Understanding how these areas compare with PONY 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 Pony Tax Rate
0.53%
Average Madison County Tax Rate
0.36%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pony, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59747 | 0.47% | 0.48% | 0.53% | 0.55% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Pony, Madison County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pony, Montana. 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 Pony, 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. Notably, the median home price in Pony is $224,000. The property tax bills can vary significantly, with the 25th percentile at $440 and the 75th percentile at $1,824. The highest and lowest median tax bills, both at $1,203, are found in the 59747 zip code. By understanding 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 Pony helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pony, Madison County, Montana
Source: Ownwell
$214,600
$1,481,350
$2,748,100
Average Pony Assessed Value
$224,000
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 Pony, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59747 | $25,204 | $53,360 | $224,000 | $351,104 | $513,090 |
Source: Ownwell
Property Tax Bills Across Pony, Madison County, Montana
In the city of Pony in Madison County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. Homeowners in Pony can expect their property tax bill to be influenced by the median home price of $224,000. The tax rate in Madison County is applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can affect the assessed value. For instance, the 25th percentile tax bill is $440, while the 75th percentile tax bill is $1,824. At the higher end, the 90th percentile tax bill reaches $2,581. These figures illustrate the range of property tax obligations homeowners might face. Comparatively, the median property tax rate in Pony is lower than the national median of 0.99%, making it relatively more affordable for property owners. Understanding these factors helps homeowners anticipate their annual tax responsibilities and budget accordingly.
Average Pony Tax Bill
$1,203
Average Madison County Tax Bill
$2,126
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Pony, Madison County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59747 | $131 | $440 | $1,203 | $1,824 | $2,581 |
Source: Ownwell