Big Timber, Montana Property Taxes
The median property tax rate in Big Timber, MT is 0.63%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Big Timber at $297,950, the typical annual property tax bill reaches $1,818, which is below the national median of $2,690. Property taxes in Big Timber 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 Big Timber'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 Big Timber or another part of Sweet Grass County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Timber, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,877
$1,742
Ownwell’s Big Timber Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Timber with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Timber 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 Big Timber, Montana
Property taxes in Big Timber, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Timber is 0.63%, lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Big Timber set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Timber 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 Big Timber's effective property tax rate to other counties in Montana and the national median. For comparison, the 59011 zip code has the highest median property tax rate of 0.63%, while the 59011 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Big Timber provides valuable insights into the varying tax landscape across Sweet Grass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Timber Tax Rate
0.63%
Average Sweet Grass County Tax Rate
0.62%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Timber, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59011 | 0.49% | 0.54% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Big Timber, Montana
In Big Timber, 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 Sweet Grass County 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 Big Timber, 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 Big Timber helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,818, found in the 59011 zip code.
Average Big Timber Assessed Value
$297,950
Average Sweet Grass County Assessed Value
$300,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Timber, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59011 | $90,285 | $205,800 | $297,950 | $456,875 | $659,100 |
Source: Ownwell
Property Tax Bills Across Big Timber, Montana
In Big Timber, property tax bills are calculated based on the assessed value of a home, which is determined by the Sweet Grass County assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Big Timber, the median home price stands at $297,950. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,276 and the 75th percentile reaching $2,639. For those at the higher end, the 90th percentile tax bill is $3,799. These taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Big Timber may find their property tax bills to be a significant annual expense but also a crucial contribution to the community’s well-being. The median property tax rate in Big Timber is comparable to the national median rate of 0.99%.
Average Big Timber Tax Bill
$1,818
Average Sweet Grass County Tax Bill
$1,821
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Timber, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59011 | $550 | $1,276 | $1,818 | $2,639 | $3,799 |
Source: Ownwell