Flaxville, Montana Property Taxes
The median property tax rate in Flaxville, MT is 1.10%, higher than both the national median of 0.99% and Montana's state median of 0.83%. With a median home value of $24,342 in Flaxville, the typical annual property tax bill is $265, exceeding the national median of $2,690. Property taxes in Flaxville 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 Flaxville'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 Flaxville or another part of Sheridan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Flaxville, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$268
Ownwell’s Flaxville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flaxville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flaxville 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 Sheridan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Flaxville, Montana
Property taxes in Flaxville, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flaxville is 1.10%, higher than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Flaxville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flaxville 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 Flaxville's effective property tax rate to other counties in Montana and the national median. For comparison, the 59222 zip code has both the highest and lowest median property tax rate of 1.10%. Understanding how these cities compare with Flaxville provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flaxville Tax Rate
1.10%
Average Sheridan County Tax Rate
1.29%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flaxville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59222 | 1.08% | 1.09% | 1.10% | 1.11% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Flaxville, Montana
In Flaxville, 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 Sheridan 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 Flaxville, 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 Flaxville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Flaxville is $265.00, both in the zip code 59222.
Average Flaxville Assessed Value
$24,342
Average Sheridan County Assessed Value
$91,094
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flaxville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59222 | $11,092 | $16,061 | $24,342 | $32,624 | $37,592 |
Source: Ownwell
Property Tax Bills Across Flaxville, Montana
In Flaxville, property tax bills are calculated based on the assessed value of a home, which is determined by the Sheridan County tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For context, the national median property tax rate is 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Flaxville, the median home price is $24,342, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $176, while the 75th percentile tax bill is $353, and the 90th percentile tax bill reaches $407. The highest median tax bill recorded in the area is $265 in the 59222 zip code, which is also the lowest, indicating a uniform rate across this zip code. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure, making them an essential aspect of homeownership in Flaxville.
Average Flaxville Tax Bill
$265
Average Sheridan County Tax Bill
$1,221
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Flaxville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59222 | $123 | $176 | $265 | $353 | $407 |
Source: Ownwell