Hathaway, Montana Property Taxes
The median property tax rate in Hathaway, MT is 0.50%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Hathaway at $114,447, the typical annual property tax bill reaches $969, well below the national median of $2,690. Property taxes in Hathaway 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 Hathaway'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 Hathaway 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
Hathaway, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$572
Ownwell’s Hathaway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hathaway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hathaway 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 Hathaway, Montana
Property taxes in Hathaway, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hathaway is 0.50%, significantly lower than the U.S. national median of 0.99%. Local government entities within Hathaway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hathaway 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 Hathaway's effective property tax rate to other areas in Montana and the national median. For comparison, the 59333 zip code has the highest median property tax rate of 0.50%, while the 59333 zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Hathaway provides valuable insights into the varying tax landscape across Rosebud County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hathaway Tax Rate
0.50%
Average Rosebud County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hathaway, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59333 | 0.47% | 0.48% | 0.50% | 0.60% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Hathaway, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hathaway, Montana. 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 Rosebud 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 Hathaway, 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 Hathaway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $969.00, specifically in the 59333 zip code.
Average Hathaway Assessed Value
$114,447
Average Rosebud County Assessed Value
$88,000
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hathaway, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59333 | $2,732 | $22,598 | $114,447 | $247,016 | $308,745 |
Source: Ownwell
Property Tax Bills Across Hathaway, Montana
In Hathaway, located in Rosebud County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Hathaway is $114,447. Homeowners in the 25th percentile pay around $345 annually, while those in the 75th percentile pay approximately $1,377. At the 90th percentile, the tax bill can go up to $1,808. Several factors influence these tax bills, including property size, location, and any applicable exemptions. The local tax rate in Hathaway is influenced by various public services and infrastructure needs. Compared to the national median property tax rate of 0.99%, Hathaway’s tax rates can be considered moderate. Homeowners should be aware of how these factors impact their annual tax obligations, as higher property values or changes in local tax rates can significantly affect the amount they owe.
Average Hathaway Tax Bill
$969
Average Rosebud County Tax Bill
$942
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Hathaway, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59333 | $207 | $345 | $969 | $1,377 | $1,808 |
Source: Ownwell