Butte, Montana Property Taxes
The median property tax rate in Butte, MT is 1.08%, noticeably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Butte at $208,500, the typical annual property tax bill reaches $2,307, which is below the national median of $2,690. Property taxes in Butte are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Butte'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 Butte or another part of Silver Bow County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butte, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,252
$2,090
Ownwell’s Butte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butte 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 Butte, Montana
Property taxes in Butte, Montana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Butte is 1.08%, higher than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Butte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butte 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 Butte's effective property tax rate to other areas in Montana and the national median. For comparison, the 59701 zip code has the highest median property tax rate of 1.08%, while the 59750 zip code has the lowest median tax rate of 0.72%. Understanding how these areas compare with Butte provides valuable insights into the varying tax landscape across Silver Bow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butte Tax Rate
1.08%
Average Silver Bow County Tax Rate
1.08%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59701 | 0.80% | 0.99% | 1.08% | 1.20% | 1.40% |
| 59750 | 0.68% | 0.70% | 0.72% | 0.77% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Butte, Montana
In Butte, 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 Silver Bow 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 Butte, 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. For example, the median home price in Butte is $208,500, with the tax bill ranging from $1,588 at the 25th percentile to $3,996 at the 90th percentile. The highest median tax bill is $2,312 in zip code 59701, while the lowest is $2,010 in zip code 59750. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Butte Assessed Value
$208,500
Average Silver Bow County Assessed Value
$209,800
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59701 | $44,601 | $133,800 | $208,000 | $301,200 | $421,200 |
| 59750 | $94,180 | $176,720 | $277,717 | $382,900 | $502,749 |
Source: Ownwell
Property Tax Bills Across Butte, Montana
In Butte, located in Silver Bow County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, with a median home price of $208,500, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $1,588, while those in the 75th percentile might pay up to $3,103. At the 90th percentile, the tax bill can reach $3,996. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For example, in the zip code 59701, the highest median tax bill is $2,312, whereas in 59750, the lowest median tax bill is $2,010. These taxes fund essential public services, such as schools, infrastructure, and emergency services, directly impacting homeowners' quality of life. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Butte Tax Bill
$2,307
Average Silver Bow County Tax Bill
$2,299
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Butte, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59701 | $816 | $1,594 | $2,312 | $3,107 | $3,997 |
| 59750 | $751 | $1,354 | $2,010 | $2,652 | $3,518 |
Source: Ownwell