Grenora, Montana Property Taxes
The median property tax rate in Grenora, MT is 1.22%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Grenora being $87,830, the typical annual property tax bill reaches $1,074, exceeding the national median of $2,690. Property taxes in Grenora 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 Grenora'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 Grenora 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
Grenora, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,072
$994
Ownwell’s Grenora Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grenora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grenora to provide an estimate of 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 Grenora, Montana
Property taxes in Grenora, Montana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grenora is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Grenora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grenora 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 Grenora's effective property tax rate to other counties in Montana and the national median. For comparison, the highest median property tax rate in the area is 1.22%, while the lowest median tax rate is 0.77%. Understanding how these cities compare with Grenora 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 Grenora Tax Rate
1.22%
Average Sheridan County Tax Rate
1.29%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grenora, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Grenora, Montana
In Grenora, 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 Grenora, 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 Grenora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Grenora is $87,830, with tax bills generally around $1,074, which is significantly higher than the national median property tax rate of 0.99%.
Average Grenora Assessed Value
$87,830
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 Grenora, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Grenora, Montana
Property tax bills in Grenora, Sheridan County, MT, are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the property's market value, and this percentage can vary based on state regulations. Once the assessed value is established, the local tax rate, also known as the mill rate, is applied to calculate the annual tax bill. In Grenora, the median home price is $87,830. Homeowners in this area typically see tax bills around $1,074, which is consistent across the 25th, 75th, and 90th percentiles. This uniformity suggests a stable and predictable tax environment for property owners. Compared to the national median property tax rate of 0.99%, Grenora's rate is relatively high, affecting homeowners by increasing their annual financial obligations. This higher tax rate underscores the importance of accurate property assessments and potential appeals to ensure fair taxation.
Average Grenora Tax Bill
$1,074
Average Sheridan County Tax Bill
$1,221
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Grenora, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell