Malta, Montana Property Taxes
The median property tax rate in Malta, MT is 1.33%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Malta at $130,300, the typical annual property tax bill reaches $1,762, exceeding the national median of $2,690. Property taxes in Malta 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 Malta'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 Malta 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
Malta, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,733
$1,608
Ownwell’s Malta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malta 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 Malta, Montana
Property taxes in Malta, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malta is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Malta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malta 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 Malta's effective property tax rate to other counties in Montana and the national median. For comparison, the 59538 zip code has the highest median property tax rate of 1.33%, while the same 59538 zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Malta 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 Malta Tax Rate
1.33%
Average Phillips County Tax Rate
1.28%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malta, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59538 | 0.92% | 1.14% | 1.33% | 1.59% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Malta, Montana
In Malta, 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 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 Malta, 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 Malta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Malta is $1,762, both found in the 59538 zip code.
Average Malta Assessed Value
$130,300
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 Malta, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59538 | $32,671 | $70,300 | $130,300 | $196,686 | $256,707 |
Source: Ownwell
Property Tax Bills Across Malta, Montana
In Malta, Phillips County, MT, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For instance, the median home price in Malta is $130,300, and the assessed value is a percentage of this market value, as determined by local regulations. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Malta can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is $1,072, while at the 75th percentile, it rises to $2,486. At the 90th percentile, the tax bill can reach up to $3,231. These property taxes have a direct impact on homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring the community's overall well-being and development.
Average Malta Tax Bill
$1,762
Average Phillips County Tax Bill
$1,408
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Malta, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59538 | $584 | $1,072 | $1,762 | $2,486 | $3,231 |
Source: Ownwell