Raymond, Montana Property Taxes
The median property tax rate in Raymond, MT is 1.12%, significantly higher than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $91,503 in Raymond, the typical annual property tax bill reaches $1,246, surpassing the national median of $2,690. Property taxes in Raymond are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Raymond'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 Raymond or another part of Sheridan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raymond, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,025
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Montana
Property taxes in Raymond, Montana, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 0.83%, which is lower than both the Montana state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Montana and the national median. For comparison, the 59256 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Raymond 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 Raymond Tax Rate
1.12%
Average Sheridan County Tax Rate
1.29%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59256 | 1.04% | 1.04% | 1.12% | 1.24% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Montana
In Raymond, 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 Raymond, 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 highest median tax bill in Raymond is $1246, found in the 59256 zip code. The lowest median tax bill is also $1246 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymond Assessed Value
$91,503
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 Raymond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59256 | $6,048 | $29,305 | $91,503 | $143,483 | $284,903 |
Source: Ownwell
Property Tax Bills Across Raymond, Montana
In Raymond, located in Sheridan County, MT, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Raymond, the median home price is $91,503. Property tax bills can vary significantly, with the 25th percentile at $540 and the 75th percentile reaching $1,849. The 90th percentile tax bill can go as high as $3,409. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Homeowners must budget for these taxes, as they are a significant part of the annual cost of owning a property in Raymond.
Average Raymond Tax Bill
$1,246
Average Sheridan County Tax Bill
$1,221
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59256 | $114 | $540 | $1,246 | $1,849 | $3,409 |
Source: Ownwell