Wolf Point, Montana Property Taxes
The median property tax rate in Wolf Point, MT is 0.88%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $126,374, the typical annual property tax bill in Wolf Point is about $1,225, significantly lower than the national median of $2,690. Property taxes in Wolf Point are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wolf Point's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wolf Point or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wolf Point, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,112
Ownwell’s Wolf Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wolf Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolf Point 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 Wolf Point, Montana
Property taxes in Wolf Point, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolf Point is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Wolf Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolf Point 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 Wolf Point's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59201 has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Wolf Point 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 Wolf Point Tax Rate
0.88%
Average Mccone County Tax Rate
1.03%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | 0.85% | 0.85% | 0.88% | 0.99% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Wolf Point, Montana
In Wolf Point, 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 McCone 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 Wolf Point, 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 Wolf Point 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 bill is 59201, with a median tax bill of $1,225.
Average Wolf Point Assessed Value
$126,374
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 Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $16,814 | $57,542 | $126,374 | $217,510 | $284,234 |
Source: Ownwell
Property Tax Bills Across Wolf Point, Montana
In Wolf Point, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Various factors such as the property's location, size, and condition influence its market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Homeowners in Wolf Point experience a range of property tax bills. For instance, the 25th percentile tax bill is $607, while the 75th percentile reaches $1975, and the 90th percentile goes up to $2833. These figures highlight the variability in property tax burdens based on property values and specific circumstances. Compared to the national median property tax rate of 0.99%, Wolf Point's tax bills can be relatively affordable for some homeowners, but others may find them more burdensome depending on their property's assessed value. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Wolf Point Tax Bill
$1,225
Average Mccone County Tax Bill
$1,040
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolf Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $205 | $607 | $1,225 | $1,975 | $2,833 |
Source: Ownwell