Shepherd, Montana Property Taxes
The median property tax rate in Shepherd, MT is 0.62%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Shepherd, the typical annual property tax bill reaches $2,463, which is below the national median of $2,690. Property taxes in Shepherd are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shepherd'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 Shepherd 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
Shepherd, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$2,446
$2,269
Ownwell’s Shepherd Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shepherd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shepherd 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 Shepherd, Montana
Property taxes in Shepherd, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shepherd is 0.62%, lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Shepherd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shepherd 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 Shepherd's effective property tax rate to other counties in Montana and the national median. For comparison, the 59079 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Shepherd 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 Shepherd Tax Rate
0.62%
Average Musselshell County Tax Rate
0.71%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Shepherd, Montana
In Shepherd, 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 Shepherd, 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. The median home price in Shepherd is $394,440, with the median tax bill around $2,463. 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 Shepherd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59079 has both the highest and lowest median tax bills, each at $2,463.
Average Shepherd Assessed Value
$394,440
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 Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | $394,440 | $394,440 | $394,440 | $394,440 | $394,440 |
Source: Ownwell
Property Tax Bills Across Shepherd, Montana
In Shepherd, located in Musselshell County, MT, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. Factors such as property size, location, and any improvements or renovations can impact the assessed value. Shepherd's property tax rate and bills are quite distinct. The median home price is $394,440, and the property tax bill consistently stands at $2,463, regardless of whether it falls at the 25th, 75th, or 90th percentile. This uniformity indicates a flat tax rate applied across different property valuations. For homeowners, this means a predictable tax bill, simplifying financial planning. However, compared to the national median property tax rate of 0.99%, Shepherd's rate may be perceived as relatively high, impacting the overall cost of homeownership in the area. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Shepherd Tax Bill
$2,463
Average Musselshell County Tax Bill
$818
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Shepherd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59079 | $2,463 | $2,463 | $2,463 | $2,463 | $2,463 |
Source: Ownwell