Fairview, Montana Property Taxes
The median property tax rate in Fairview, MT is 0.87%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value in Fairview of $116,100, the typical annual property tax bill amounts to $1,155, which is below the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fairview'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 Fairview 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
Fairview, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,010
$937
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Montana
Property taxes in Fairview, Montana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59221 within Richland County has the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Fairview 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 Fairview Tax Rate
0.87%
Average Richland County Tax Rate
0.90%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59221 | 0.61% | 0.70% | 0.87% | 1.05% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Montana
In Fairview, 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. 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Fairview is 59221, with a median tax bill of $1,155.
Average Fairview Assessed Value
$116,100
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 Fairview, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59221 | $27,068 | $53,113 | $116,100 | $208,110 | $298,024 |
Source: Ownwell
Property Tax Bills Across Fairview, Montana
In Fairview, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Fairview is $116,100. Once the assessed value is established, the local property tax rate is applied to determine the tax bill. Factors such as the home's location within Richland County and any applicable exemptions can influence the final amount. For homeowners, the tax burden can vary significantly. The 25th percentile tax bill is $632, indicating that a quarter of homeowners pay less than this amount. On the other end, the 75th percentile tax bill is $1,680, and those in the 90th percentile face bills up to $2,386. This range reflects the diverse property values and conditions within Fairview. Compared to the national median property tax rate of 0.99%, Fairview's tax rates provide a relatively moderate tax environment, though individual experiences may vary based on specific property assessments and local tax policies.
Average Fairview Tax Bill
$1,155
Average Richland County Tax Bill
$1,650
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59221 | $354 | $632 | $1,155 | $1,680 | $2,386 |
Source: Ownwell