Hinsdale, Montana Property Taxes
The median property tax rate in Hinsdale, MT is 0.78%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Hinsdale at $148,722, the typical annual property tax bill is around $2,294, falling below the national median of $2,690. Property taxes in Hinsdale 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 Hinsdale'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 Hinsdale 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
Hinsdale, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,160
$1,076
Ownwell’s Hinsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hinsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hinsdale 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 Hinsdale, Montana
Property taxes in Hinsdale, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinsdale is 0.78%, lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Hinsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinsdale 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 Hinsdale's effective property tax rate to other counties in Montana and the national median. For comparison, the 59241 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Hinsdale provides valuable insights into the varying tax landscape across Phillips County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hinsdale Tax Rate
0.78%
Average Phillips County Tax Rate
1.28%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59241 | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Hinsdale, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hinsdale, Montana. 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 Phillips 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 Hinsdale, 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 Hinsdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,294 in the 59241 zip code.
Average Hinsdale Assessed Value
$148,722
Average Phillips County Assessed Value
$105,606
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59241 | $32,120 | $75,846 | $148,722 | $221,599 | $265,324 |
Source: Ownwell
Property Tax Bills Across Hinsdale, Montana
In Hinsdale, Phillips County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Hinsdale, the median home price is $148,722, and the property tax rate is reflective of local funding needs and state regulations. The median property tax bill in Hinsdale is $2,294, which is significantly higher than the national median property tax rate of 0.99%. This high tax bill can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning. Factors such as property improvements, changes in market value, and local budget requirements can further influence the assessed value and, consequently, the tax bill. Homeowners should stay informed about these factors to anticipate changes in their property tax obligations.
Average Hinsdale Tax Bill
$2,294
Average Phillips County Tax Bill
$1,408
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinsdale, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59241 | $2,294 | $2,294 | $2,294 | $2,294 | $2,294 |
Source: Ownwell