Vida, Montana Property Taxes
The median property tax rate in Vida, MT is 0.94%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $117,947, the typical annual property tax bill in Vida amounts to $1,157, which is below the national median of $2,690. Property taxes in Vida are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vida'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 Vida or another part of McCone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vida, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,109
$1,029
Ownwell’s VIDA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in VIDA using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VIDA to provide an estimate of your property tax bill. This valuable tool offers a clear picture of potential tax liabilities. For those curious about neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by McCone County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Vida, Montana
Property taxes in Vida, Montana, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Vida is 0.94%, which is just below the U.S. national median of 0.99%. Local government entities within Vida set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vida 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 Vida's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59274 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Vida provides valuable insights into the varying tax landscape across McCone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vida Tax Rate
0.94%
Average Mccone County Tax Rate
1.03%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vida, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59274 | 0.85% | 0.85% | 0.94% | 1.09% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Vida, Montana
In Vida, 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 local 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 Vida, 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 Vida helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,157 in zip code 59274.
Average Vida Assessed Value
$117,947
Average Mccone County Assessed Value
$94,252
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vida, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59274 | $9,982 | $53,115 | $117,947 | $197,492 | $271,026 |
Source: Ownwell
Property Tax Bills Across Vida, Montana
In Vida, located in McCone County, MT, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Vida is $117,947. Property tax rates are applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, improvements, and any applicable exemptions. For homeowners in Vida, the property tax bills can vary significantly. For instance, the 25th percentile tax bill is $543, while the 75th percentile tax bill is $2171, and the 90th percentile tax bill reaches $2826. These variations are influenced by differences in property values and the specific characteristics of each home. Compared to the national median property tax rate of 0.99%, Vida's property taxes can be seen as relatively moderate, providing a balance between necessary public funding and homeowner affordability. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Vida Tax Bill
$1,157
Average Mccone County Tax Bill
$1,040
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Vida, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59274 | $128 | $543 | $1,157 | $2,171 | $2,826 |
Source: Ownwell