Nye, Stillwater County, Montana Property Taxes
The median property tax rate in NYE, MT is 0.56%, which is significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $372,900 in NYE, the typical annual property tax bill amounts to $2,124, falling below the national median of $2,690. Property taxes in NYE are calculated based on the tax assessed value, which often falls short of the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding NYE'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 NYE or another part of Stillwater County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nye, Stillwater County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$2,088
$1,938
Ownwell’s NYE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NYE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NYE 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 Nye, Stillwater County, Montana
Property taxes in NYE, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in NYE is 0.56%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within NYE set these rates annually, and they can vary significantly across different neighborhoods. Each year, NYE 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 NYE's effective property tax rate to other counties in Montana and the national median. For comparison, the 59061 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with NYE provides valuable insights into the varying tax landscape across Stillwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nye Tax Rate
0.56%
Average Stillwater County Tax Rate
0.69%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nye, Stillwater County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59061 | 0.52% | 0.53% | 0.56% | 0.59% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Nye, Stillwater County, Montana
In NYE, 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 Stillwater 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 NYE, 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. The median home price in NYE is $372,900, with tax bills ranging from $1,464 at the 25th percentile to $3,929 at the 90th percentile. The highest and lowest median tax bills both stand at $2,124, in the 59061 zip code. 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 NYE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Nye, Stillwater County, Montana
Source: Ownwell
$198,050
$285,475
$372,900
Average Nye Assessed Value
$372,900
Average Stillwater County Assessed Value
$299,005
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nye, Stillwater County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59061 | $146,588 | $257,573 | $372,900 | $509,800 | $692,380 |
Source: Ownwell
Property Tax Bills Across Nye, Stillwater County, Montana
In the city of NYE in Stillwater County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $372,900, homeowners can expect varying tax bills depending on their property's assessed value and any applicable exemptions. Factors like the property's location, size, and condition play a crucial role in determining its assessed value. In NYE, the 25th percentile tax bill is $1,464, while the 75th percentile tax bill reaches $2,844, and the 90th percentile climbs to $3,929. These figures illustrate the range of tax burdens homeowners might face. Compared to the national median property tax rate of 0.99%, NYE's property taxes can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Nye Tax Bill
$2,124
Average Stillwater County Tax Bill
$2,154
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Nye, Stillwater County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59061 | $906 | $1,464 | $2,124 | $2,844 | $3,929 |
Source: Ownwell