Sumatra, Montana Property Taxes
The median property tax rate in Sumatra, MT is 0.79%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Sumatra, the typical annual property tax bill reaches $732, significantly below the national median of $2,690. Property taxes in Sumatra 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 Sumatra'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 Sumatra 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
Sumatra, 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 Sumatra Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumatra with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumatra 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 Sumatra, Montana
Property taxes in Sumatra, Montana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumatra is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Sumatra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumatra 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 Sumatra's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59083 has both the highest and lowest median property tax rate in Rosebud County at 0.79%. Understanding how these areas compare with Sumatra 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 Sumatra Tax Rate
0.79%
Average Rosebud County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumatra, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59083 | 0.32% | 0.62% | 0.79% | 0.88% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Sumatra, Montana
In Sumatra, 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 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 Sumatra, 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 Sumatra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59083 has the highest and lowest median tax bill at $732.
Average Sumatra Assessed Value
$49,769
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 Sumatra, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59083 | $1,196 | $9,280 | $49,769 | $134,579 | $221,170 |
Source: Ownwell
Property Tax Bills Across Sumatra, Montana
Property tax bills in Sumatra, located in Rosebud County, MT, are calculated based on the assessed value of a property and the local tax rate. The median home price in Sumatra is $49,769, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Sumatra, the tax bills vary significantly. For instance, homeowners in the 25th percentile pay around $347 annually, while those in the 75th percentile face a tax bill of approximately $1,579. At the higher end, the 90th percentile tax bill reaches up to $2,399. The highest and lowest median tax bills in the area are both recorded at $732 in zip code 59083. These property taxes directly impact homeowners by contributing to community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Sumatra's rates can present a relatively moderate financial obligation for property owners.
Average Sumatra Tax Bill
$732
Average Rosebud County Tax Bill
$942
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumatra, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59083 | $149 | $347 | $732 | $1,579 | $2,399 |
Source: Ownwell