Wht Sphr Spgs, Montana Property Taxes
The median property tax rate in WHT SPHR SPGS, MT is 0.96%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $182,900 in WHT SPHR SPGS, the typical annual property tax bill is $1,760, which is lower than the national median of $2,690. Property taxes here 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 WHT SPHR SPGS'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 WHT SPHR SPGS 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
Wht Sphr Spgs, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,756
Ownwell’s WHT SPHR SPGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WHT SPHR SPGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WHT SPHR SPGS 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 Wht Sphr Spgs, Montana
Property taxes in White Sulphur Springs, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in White Sulphur Springs is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within White Sulphur Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Sulphur Springs 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 White Sulphur Springs' effective property tax rate to other areas in Meagher County and the national median. For comparison, the zip code 59645 has both the highest and lowest median property tax rate in the region, standing at 0.96%. Understanding how these areas compare with White Sulphur Springs provides valuable insights into the varying tax landscape across Meagher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wht Sphr Spgs Tax Rate
0.96%
Average Meagher County Tax Rate
0.79%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wht Sphr Spgs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59645 | 0.74% | 0.82% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Wht Sphr Spgs, Montana
In WHT SPHR SPGS, 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 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 WHT SPHR SPGS, 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 WHT SPHR SPGS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1760 in the 59645 zip code, which is also the lowest median tax bill, reflecting a relatively consistent tax burden across the region.
Average Wht Sphr Spgs Assessed Value
$182,900
Average Meagher County Assessed Value
$188,100
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wht Sphr Spgs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59645 | $84,988 | $121,705 | $182,900 | $425,948 | $571,778 |
Source: Ownwell
Property Tax Bills Across Wht Sphr Spgs, Montana
In White Sulphur Springs, located in Meagher County, MT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $182,900. The local tax authorities then apply the relevant tax rate to this assessed value to determine the annual property tax bill. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. Homeowners in White Sulphur Springs see a range of tax bills. For example, at the 25th percentile, the tax bill is approximately $1,171, while at the 75th percentile, it rises to about $3,162. At the 90th percentile, some homeowners may pay up to $4,003. These variations can significantly impact a homeowner’s financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, the property tax rates here can lead to a wide range of tax obligations, reflecting the diverse property values within the community.
Average Wht Sphr Spgs Tax Bill
$1,760
Average Meagher County Tax Bill
$1,532
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Wht Sphr Spgs, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59645 | $818 | $1,171 | $1,760 | $3,162 | $4,003 |
Source: Ownwell