Wise River, Montana Property Taxes
The median property tax rate in Wise River, MT is 0.73%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Wise River at $205,112, the typical annual property tax bill amounts to $1,503, significantly below the national median of $2,690. Property taxes in Wise River are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wise River'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 Wise River 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
Wise River, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,497
$1,389
Ownwell’s Wise River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wise River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wise River 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 Wise River, Montana
Property taxes in Wise River, Montana, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Wise River is 0.85%, which is significantly lower than the U.S. national median of 0.99%. Local government entities in Wise River set these rates annually, and they can vary across different neighborhoods within the county. Each year, Wise River estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided by the total assessed 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. For comparison, the highest median property tax rate in the region is 0.85%, while the lowest is also 0.85%, reflecting a consistent rate across Wise River. Understanding how these rates compare with other areas 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 Wise River Tax Rate
0.73%
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Wise River, Montana
In Wise River, 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 Wise River, 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 Wise River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wise River is $205,112, with the highest and lowest median tax bills both recorded at $1,503 in zip code 59762.
Average Wise River Assessed Value
$205,112
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $205,112 | $205,112 | $205,112 | $205,112 | $205,112 |
Source: Ownwell
Property Tax Bills Across Wise River, Montana
In Wise River, MT, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of your property. For homeowners in Wise River, the median home price stands at $205,112. Property tax rates can vary, but in this area, the tax bill is notably consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,503. This figure is significantly higher than the national median property tax rate of 0.99%. Several factors influence your property tax bill, including the property's location within Silver Bow County, the assessed value, and any applicable exemptions. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the quality of life for residents. For homeowners, understanding these components is crucial, as property taxes represent a significant annual expense and can affect overall financial planning.
Average Wise River Tax Bill
$1,503
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 Wise River, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59762 | $1,503 | $1,503 | $1,503 | $1,503 | $1,503 |
Source: Ownwell