Musselshell, Montana Property Taxes
The median property tax rate in Musselshell, MT is 0.63%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $62,500 in Musselshell, the typical annual property tax bill is $469, significantly below the national median of $2,690. Property taxes in Musselshell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Musselshell'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 Musselshell or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Musselshell, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$394
Ownwell’s Musselshell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Musselshell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Musselshell 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 Musselshell, Montana
Property taxes in Musselshell, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Musselshell is 0.63%, notably lower than the U.S. national median of 0.99%. Local government entities within Musselshell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Musselshell 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 Musselshell's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59059 has both the highest and the lowest median property tax rate of 0.63%. Understanding how these regions compare with Musselshell provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Musselshell Tax Rate
0.63%
Average Musselshell County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Musselshell, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59059 | 0.52% | 0.59% | 0.63% | 0.72% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Musselshell, Montana
In Musselshell, 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 Musselshell, 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. Musselshell has a median home price of $62,500, with tax bills ranging from $109 at the 25th percentile to $2,460 at the 90th percentile. The highest and lowest median tax bills in the county are both $469, found in the 59059 zip code. Being aware of these valuation processes in Musselshell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Musselshell Assessed Value
$62,500
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 Musselshell, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59059 | $4,735 | $13,369 | $62,500 | $194,882 | $359,188 |
Source: Ownwell
Property Tax Bills Across Musselshell, Montana
In Musselshell, MT, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which in Musselshell has a median home price of $62,500. Factors such as property location, size, and improvements are taken into account when determining the assessed value. The tax bill can vary significantly across different percentiles. For instance, homeowners in the 25th percentile pay around $109 annually, while those in the 75th percentile see bills closer to $1,395. At the higher end, the 90th percentile tax bill reaches $2,460. Comparatively, Musselshell's property taxes are lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in the area, but it also means that local services funded by property taxes might receive less financial support. Homeowners should consider these factors when evaluating the overall cost of living in Musselshell.
Average Musselshell Tax Bill
$469
Average Musselshell County Tax Bill
$818
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Musselshell, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59059 | $30 | $109 | $469 | $1,395 | $2,460 |
Source: Ownwell