Virginia City, Madison County, Montana Property Taxes

Name: Property Tax Bills Across Virginia City, Madison County, Montana
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Virginia City, MT effective property tax rate: 0.41%, significantly lower than the national median of 1.02%, but lower than the Montana state median of 0.83%. Median Virginia City, MT home value: $214,600. Median annual Virginia City, MT tax bill: $961, $1,439 lower than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

Property taxes in Virginia City, MT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Virginia City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Virginia City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Virginia City, Madison County, Montana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.41%

Estimate Property Tax Bill

$880

$816

Ownwell’s VIRGINIA CITY Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in VIRGINIA CITY with just two data points.

By entering your property's estimated assessed value, our calculator applies VIRGINIA CITY’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Madison.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Virginia City, Madison County, Montana

Local government entities are responsible for setting property tax rates, which can significantly differ across various regions within a state. Each county, including Madison County, calculates its necessary budget to fund essential services and divides this amount by the total value of all taxable properties within its area. This process determines the property tax rate for the year. Despite the involvement of votes and legislation in establishing these rates and budgets, this is the simplified version of the annual procedure. In Virginia City, located in Madison County, MT, the effective property tax rate stands at 0.41%, which is below the national median property tax rate of 1.02%. This rate is consistent across all areas within the zip code 59755, indicating a uniform approach to property taxation in the region. When compared to the national landscape, Virginia City's property tax rate is relatively low, offering potential savings for property owners.

Property Tax Rates Across Virginia City, Madison County, Montana

Source: Ownwell

0.32%

0.55%

0.78%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Virginia City Tax Rate

0.41%

Median Effective Madison County Tax Rate

0.36%

Median Effective Montana Tax Rate

0.83%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Virginia City, Madison County, Montana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
59755	0.34%	0.37%	0.41%	0.43%	0.50%

Source: Ownwell

Property Tax Assessment Values Across Virginia City, Madison County, Montana

When examining property taxes in Virginia City, MT, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Madison County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Madison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Virginia City. For example, the median home price in Virginia City is $214,600, with tax bills ranging significantly across the county. Zip code 59755 has the highest median home price at $214,600.

Property Tax Assessment Values Across Virginia City, Madison County, Montana

Source: Ownwell

$214,600

$1,481,350

$2,748,100

Median Virginia City Market Value

$214,600

Median Madison County Market Value

$483,557

Median Montana Market Value

$317,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Virginia City, Madison County, Montana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
59755	$15,050	$66,738	$214,600	$315,675	$437,136

Source: Ownwell

Property Tax Bills Across Virginia City, Madison County, Montana

In Virginia City, located in Madison County, MT, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. With a median home price of $214,600, property tax bills can vary significantly. Homeowners in Virginia City typically see tax bills ranging from $324 at the 25th percentile to $1,874 at the 90th percentile. The median tax bill is $961, which is notably lower than the national median tax bill of $2,400. Factors influencing these bills include the assessed value of the property, local tax rates, and any applicable exemptions or deductions. High property taxes can place a significant financial burden on homeowners, impacting their overall cost of living.

Ownwell offers a valuable service to homeowners in Virginia City by helping them appeal their property tax assessments and identify potential exemptions. This can lead to significant savings, reducing the financial strain of property taxes and allowing homeowners to allocate their resources more effectively.

Property Tax Bills Across Virginia City, Madison County, Montana

Source: Ownwell

$961

$5,056

$9,151

Median Virginia City Tax Bill

$961

Median Madison County Tax Bill

$2,126

Median Montana Tax Bill

$2,646

Median United States Tax Bill

$2,400

Property Tax Bills Across Virginia City, Madison County, Montana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
59755	$73	$324	$961	$1,327	$1,874

Source: Ownwell