Savage, Richland County, Montana Property Taxes
The median property tax rate in Savage, Montana is 0.95%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Savage at $153,050, the typical annual property tax bill reaches $1,575, which is below the national median of $2,690. Property taxes in Savage 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 Savage'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 Savage 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
Savage, Richland County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,454
$1,349
Ownwell’s Savage Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Savage using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Savage to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Savage, Richland County, Montana
Property taxes in Savage, Montana, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Savage is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Savage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Savage 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 Savage's effective property tax rate to other counties in Montana and the national median. For comparison, the 59262 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Savage 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 Savage Tax Rate
0.95%
Average Richland County Tax Rate
0.90%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Savage, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59262 | 0.71% | 0.78% | 0.95% | 1.44% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Savage, Richland County, Montana
In Savage, 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 Savage, 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 Savage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Savage is $153,050, with tax bills ranging from $1,009 at the 25th percentile to $4,105 at the 90th percentile. The highest and lowest median tax bills are both $1,575 in the 59262 zip code.
Property Tax Assessment Values Across Savage, Richland County, Montana
Source: Ownwell
$94,233
$163,704
$233,174
Average Savage Assessed Value
$153,050
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 Savage, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59262 | $29,361 | $73,772 | $153,050 | $243,295 | $339,146 |
Source: Ownwell
Property Tax Bills Across Savage, Richland County, Montana
In Savage, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the total tax bill. For homeowners in Savage, the median home price is $153,050, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,009, while those at the 75th percentile could see bills as high as $2,469. The top 10% of property tax bills can reach up to $4,105. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, Savage's rates can be seen as a reflection of the local real estate market and municipal funding needs. For homeowners, understanding these factors is crucial, as property taxes directly impact annual housing costs and long-term financial planning.
Average Savage Tax Bill
$1,575
Average Richland County Tax Bill
$1,650
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Savage, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59262 | $406 | $1,009 | $1,575 | $2,469 | $4,105 |
Source: Ownwell