Thompson Falls, Montana Property Taxes
The median property tax rate in Thompson Falls, MT is 0.67%, lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $260,100 in Thompson Falls, the typical annual property tax bill is around $2,030, which is below the national median of $2,690. Property taxes in Thompson Falls are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding the property tax system in Thompson Falls, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Thompson Falls or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thompson Falls, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,743
Ownwell’s Thompson Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thompson Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thompson Falls 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 Thompson Falls, Montana
Property taxes in Thompson Falls, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thompson Falls is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Thompson Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thompson Falls 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 Thompson Falls' effective property tax rate to other counties in Montana and the national median. For comparison, the 59873 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Thompson Falls provides valuable insights into the varying tax landscape across Sanders County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thompson Falls Tax Rate
0.67%
Average Sanders County Tax Rate
0.66%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thompson Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59873 | 0.46% | 0.64% | 0.67% | 0.91% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Thompson Falls, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thompson Falls, 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 Sanders 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 Thompson Falls, 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. The median home price in Thompson Falls is $260,100, with tax bills ranging from $1,292 at the 25th percentile to $3,543 at the 90th percentile. The zip code with the highest and lowest median tax bill is 59873, both at $2,030. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thompson Falls Assessed Value
$260,100
Average Sanders County Assessed Value
$243,800
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thompson Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59873 | $44,720 | $167,865 | $260,100 | $388,050 | $533,480 |
Source: Ownwell
Property Tax Bills Across Thompson Falls, Montana
In Thompson Falls, Sanders County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is then multiplied by the local tax rate to generate the annual tax bill. Homeowners in Thompson Falls can expect their property tax bills to vary significantly depending on the value of their property and the specific tax rate applied. Factors such as property size, location, and market conditions play a crucial role in determining the assessed value. For example, homes in the 25th percentile have tax bills around $1,292, while those in the 75th percentile see bills closer to $2,736. The highest tax bills, in the 90th percentile, can reach up to $3,543. Comparatively, the median property tax rate in Thompson Falls is lower than the national median of 0.99%, making it relatively affordable for homeowners. However, understanding these factors and how they influence tax bills is essential for homeowners to manage their financial planning effectively.
Average Thompson Falls Tax Bill
$2,030
Average Sanders County Tax Bill
$1,839
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Thompson Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59873 | $548 | $1,292 | $2,030 | $2,736 | $3,543 |
Source: Ownwell