Crane, Montana Property Taxes
The median property tax rate in Crane, MT is 0.67%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $94,233 in Crane, the typical annual property tax bill amounts to $552, which is well below the national median of $2,690. Property taxes in Crane 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 Crane’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 Crane 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
Crane, 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 Crane Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Crane with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Crane to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Crane, Montana
Property taxes in Crane, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crane is 0.67%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Crane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crane 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 Crane's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59217 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Crane provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crane Tax Rate
0.67%
Average Richland County Tax Rate
0.90%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crane, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59217 | 0.62% | 0.65% | 0.67% | 0.74% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Crane, Montana
In Crane, 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 Richland 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 Crane, 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 Crane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Crane is $552 in zip code 59217, which is significantly below the national median property tax rate of 0.99%.
Average Crane Assessed Value
$94,233
Average Richland County Assessed Value
$177,637
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crane, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59217 | $31,962 | $48,930 | $94,233 | $199,525 | $283,710 |
Source: Ownwell
Property Tax Bills Across Crane, Montana
In Crane, 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 and reflects the market value of the property. Homeowners in Crane can expect a range of property tax bills, with the 25th percentile paying around $308 and the 75th percentile paying up to $1,422. For those in the 90th percentile, the tax bill can reach $1,942. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Crane's property tax rate is relatively moderate. This impacts homeowners by providing a predictable annual expense, which can be beneficial for budgeting. The highest and lowest median tax bills in the area are both recorded at $552, indicating a level of consistency in property tax assessments within the region.
Average Crane Tax Bill
$552
Average Richland County Tax Bill
$1,650
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Crane, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59217 | $232 | $308 | $552 | $1,422 | $1,942 |
Source: Ownwell