Melstone, Montana Property Taxes
The median property tax rate in Melstone, MT is 1.13%, notably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Melstone at $51,155, the typical annual property tax bill reaches $662, which is below the national median of $2,690. Property taxes in Melstone are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Melstone'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 Melstone or another part of Musselshell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melstone, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$578
$536
Ownwell’s Melstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melstone 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 Melstone, Montana
Property taxes in Melstone, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melstone is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Melstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melstone 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 Melstone's effective property tax rate to other areas in Montana and the national median. For comparison, the 59054 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Melstone provides valuable insights into the varying tax landscape across Musselshell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melstone Tax Rate
1.13%
Average Musselshell County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | 0.72% | 0.87% | 1.13% | 1.24% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Melstone, Montana
In Melstone, 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 Musselshell 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 Melstone, 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. The median home price in Melstone is $51,155, with tax bills ranging from $183 at the 25th percentile to $2,472 at the 90th percentile. The highest and lowest median tax bills are both $662 in zip code 59054. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Melstone Assessed Value
$51,155
Average Musselshell County Assessed Value
$105,526
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | $6,691 | $14,180 | $51,155 | $142,794 | $253,787 |
Source: Ownwell
Property Tax Bills Across Melstone, Montana
In Melstone, located in Musselshell County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the county assessor. Several factors influence this assessed value, including the home's size, location, condition, and any improvements made to the property. The tax rate is then applied to the assessed value to determine the annual tax bill. For homeowners in Melstone, the median home price is $51,155. Property tax bills in this area vary significantly, with the 25th percentile at $183 and the 75th percentile at $1,467. The 90th percentile sees tax bills as high as $2,472. Compared to the national median property tax rate of 0.99%, Melstone's property tax rates can be quite variable, impacting homeowners differently depending on their property's assessed value. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Melstone Tax Bill
$662
Average Musselshell County Tax Bill
$818
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Melstone, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59054 | $85 | $183 | $662 | $1,467 | $2,472 |
Source: Ownwell