Westby, Montana Property Taxes
The median property tax rate in Westby, Montana is 1.43%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Westby at $72,365, the typical annual property tax bill reaches $1,049, exceeding the national median of $2,690. Property taxes in Westby 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 Westby'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 Westby 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
Westby, 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 Westby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westby 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 Westby, Montana
Property taxes in Westby, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westby is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Westby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westby 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 Westby's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59275 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Westby 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 Westby Tax Rate
1.43%
Average Sheridan County Tax Rate
1.29%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59275 | 1.06% | 1.22% | 1.43% | 1.59% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Westby, Montana
In Westby, 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 Westby, 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 Westby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Westby are both $1,049, with the zip code 59275.
Average Westby Assessed Value
$72,365
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 Westby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59275 | $10,555 | $33,000 | $72,365 | $134,459 | $202,652 |
Source: Ownwell
Property Tax Bills Across Westby, Montana
In Westby, located in Sheridan County, MT, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Westby is $72,365. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $498 and the 75th percentile reaching $1,818. For those in the 90th percentile, tax bills can go as high as $2,666. To determine the tax bill, local authorities apply a tax rate to the assessed value of the property. This rate is influenced by various factors, including local budgetary needs and the overall economic environment. The highest median tax bill in Sheridan County is $1,049, which is relatively lower compared to the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Westby residents.
Average Westby Tax Bill
$1,049
Average Sheridan County Tax Bill
$1,221
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Westby, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59275 | $150 | $498 | $1,049 | $1,818 | $2,666 |
Source: Ownwell