Heart Butte, Montana Property Taxes
The median property tax rate in Heart Butte, MT is 0.78%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $68,070 in Heart Butte, the typical annual property tax bill is around $418, significantly below the national median of $2,690. Property taxes in Heart Butte are calculated based on the assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Heart Butte's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Heart Butte 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
Heart Butte, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$531
$493
Ownwell’s Heart Butte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heart Butte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heart Butte 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 Heart Butte, Montana
Property taxes in Heart Butte, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heart Butte is 0.78%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Heart Butte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heart Butte 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 Heart Butte's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59448 has the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Heart Butte provides valuable insights into the varying tax landscape across Pondera County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heart Butte Tax Rate
0.78%
Average Pondera County Tax Rate
0.98%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heart Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59448 | 0.47% | 0.58% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Heart Butte, Montana
In Heart Butte, 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 Pondera 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 Heart Butte, 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 Heart Butte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 59448, with a median tax bill of $418.
Average Heart Butte Assessed Value
$68,070
Average Pondera County Assessed Value
$169,000
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heart Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59448 | $58,070 | $60,870 | $68,070 | $102,485 | $123,282 |
Source: Ownwell
Property Tax Bills Across Heart Butte, Montana
In Heart Butte, Pondera County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Heart Butte experience a median property tax bill of $418, which is significantly lower than the national median property tax rate of 0.99%. The assessed value of a property is determined by local assessors and reflects a percentage of the market value of the home. For example, with a median home price of $68,070, the property tax bill can range from $341 at the 25th percentile to $949 at the 90th percentile. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. Lower property taxes can be beneficial for homeowners by reducing their annual financial burden, but it's important to note that this might also impact the funding available for local services and infrastructure. Understanding these dynamics helps homeowners make informed decisions about their property investments in Heart Butte.
Average Heart Butte Tax Bill
$418
Average Pondera County Tax Bill
$1,660
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Heart Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59448 | $295 | $341 | $418 | $750 | $949 |
Source: Ownwell