Grass Range, Montana Property Taxes
The median property tax rate in Grass Range, MT is 1.06%, exceeding both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $110,630 in Grass Range, the typical annual property tax bill reaches $1,321, surpassing the national median of $2,690. Property taxes in Grass Range are calculated based on the tax-assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Grass Range'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 Grass Range or another part of Petroleum County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grass Range, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Grass Range Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grass Range with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grass Range 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 Grass Range, Montana
Property taxes in Grass Range, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grass Range is 1.06%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grass Range set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grass Range 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 Grass Range's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59032 has both the highest and lowest median property tax rate of 1.06%, as it is the single data point available. Understanding how these cities compare with Grass Range provides valuable insights into the varying tax landscape across Petroleum County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grass Range Tax Rate
1.06%
Average Petroleum County Tax Rate
1.23%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grass Range, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59032 | 1.00% | 1.00% | 1.06% | 1.17% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Grass Range, Montana
In Grass Range, 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 Petroleum 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 Grass Range, 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 Grass Range helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,321, found in the zip code 59032.
Average Grass Range Assessed Value
$110,630
Average Petroleum County Assessed Value
$57,945
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grass Range, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59032 | $21,474 | $68,779 | $110,630 | $425,688 | $579,358 |
Source: Ownwell
Property Tax Bills Across Grass Range, Montana
In Grass Range, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of its market value. For instance, with a median home price of $110,630, the tax bill can vary significantly. The tax bill for the 25th percentile is around $687, while at the 75th percentile, it rises to $5,169. The 90th percentile sees tax bills as high as $7,159. These values are influenced by various factors, including the home's location within Petroleum County, local tax rates, and any applicable exemptions or deductions. Homeowners in Grass Range may notice that their property tax bills can be higher or lower than the national median property tax rate of 0.99%, depending on these factors. A higher tax bill can impact homeowners by increasing their annual housing costs, while a lower tax bill can provide some financial relief. Understanding how these elements interact helps homeowners better anticipate their financial responsibilities and plan accordingly.
Average Grass Range Tax Bill
$1,321
Average Petroleum County Tax Bill
$721
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Grass Range, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59032 | $214 | $687 | $1,321 | $5,169 | $7,159 |
Source: Ownwell