Zortman, Montana Property Taxes
The median property tax rate in Zortman, MT is 0.86%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $32,300 in Zortman, the typical annual property tax bill amounts to $478, which is significantly below the national median of $2,690. Property taxes in Zortman 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 Zortman'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 Zortman or another part of Phillips County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Zortman, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$278
$258
Ownwell’s Zortman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zortman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zortman 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 Zortman, Montana
Property taxes in Zortman, Montana, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Zortman is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Zortman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zortman 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 Zortman's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59546 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Zortman 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 Zortman Tax Rate
0.86%
Average Phillips County Tax Rate
1.28%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Zortman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59546 | 0.77% | 0.85% | 0.86% | 1.13% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Zortman, Montana
In Zortman, 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 Zortman, 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. For example, Zortman’s highest median tax bill is $478 in the 59546 zip code. 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 Zortman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Zortman Assessed Value
$32,300
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 Zortman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59546 | $2,388 | $6,067 | $32,300 | $88,550 | $169,866 |
Source: Ownwell
Property Tax Bills Across Zortman, Montana
In Zortman, located in Phillips County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $32,300. Homeowners in Zortman can expect their tax bills to vary significantly, with the 25th percentile tax bill being $125 and the 75th percentile rising to $891. At the higher end, the 90th percentile tax bill reaches $1,639. These tax bills are influenced by several factors, including the market value of the home, local tax rates, and any applicable exemptions or deductions. For comparison, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Homeowners in Zortman experience a range of tax bills, which can impact their overall financial planning and the affordability of owning property in the area. The highest median tax bill in Phillips County is $478, which also happens to be the lowest, indicating a relatively uniform tax rate within the county.
Average Zortman Tax Bill
$478
Average Phillips County Tax Bill
$1,408
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Zortman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59546 | $23 | $125 | $478 | $891 | $1,639 |
Source: Ownwell