Mc Leod, Montana Property Taxes
The median property tax rate in MC LEOD, MT is 0.49%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in MC LEOD at $436,244, the typical annual property tax bill is $2,148, which is below the national median of $2,690. Property taxes in MC LEOD are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding MC LEOD's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of MC LEOD or another part of Sweet Grass County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Leod, 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 MC LEOD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC LEOD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC LEOD 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 Mc Leod, Montana
Property taxes in McLeod, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLeod is 0.49%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within McLeod set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLeod 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 McLeod's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59052 has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with McLeod 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 Mc Leod Tax Rate
0.49%
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 Mc Leod, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59052 | 0.48% | 0.48% | 0.49% | 0.53% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Mc Leod, Montana
In Mc Leod, 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 Sweet Grass 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 Mc Leod, 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 Mc Leod 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 $2,148, found in zip code 59052.
Average Mc Leod Assessed Value
$436,244
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 Mc Leod, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59052 | $151,286 | $238,774 | $436,244 | $717,186 | $1,039,170 |
Source: Ownwell
Property Tax Bills Across Mc Leod, Montana
In McLeod, Sweet Grass County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is a percentage of the home's market value, often reviewed periodically to reflect changes in the real estate market. The local tax rate, set by various taxing authorities such as the county, school districts, and other municipal entities, is then applied to the assessed value to determine the annual tax bill. For homeowners in McLeod, the median home price stands at $436,244. Property tax bills can vary significantly, with the 25th percentile at $1,194 and the 75th percentile reaching $3,519. At the higher end, the 90th percentile tax bill is $4,890. These figures illustrate the range of property tax burdens that homeowners might face, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, the specific rates in McLeod can significantly impact a homeowner's annual expenses.
Average Mc Leod Tax Bill
$2,148
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 Mc Leod, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59052 | $780 | $1,194 | $2,148 | $3,519 | $4,890 |
Source: Ownwell