Melville, Montana Property Taxes
The median property tax rate in Melville, MT is 0.64%, 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 Melville being $311,175, the typical annual property tax bill amounts to $1,987, falling below the national median of $2,690. Property taxes in Melville are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Melville's property tax system, exploring the available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Melville or another part of Sweet Grass County, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Melville, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,992
$1,848
Ownwell’s Melville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melville 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 Melville, Montana
Property taxes in Melville, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melville is 0.64%, lower than the U.S. national median of 0.99%. Local government entities within Melville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melville 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 Melville's effective property tax rate to other counties in Montana and the national median. For comparison, the 59055 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Melville 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 Melville Tax Rate
0.64%
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 Melville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59055 | 0.54% | 0.62% | 0.64% | 0.72% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Melville, Montana
In Melville, 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 Melville, 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 Melville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1987 in the 59055 zip code, which is also the lowest median tax bill.
Average Melville Assessed Value
$311,175
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 Melville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59055 | $119,290 | $158,944 | $311,175 | $608,392 | $971,873 |
Source: Ownwell
Property Tax Bills Across Melville, Montana
In Melville, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $311,175 in Melville, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property location, improvements, and market conditions influence the assessed value. For example, tax bills in the 25th percentile are around $1,040, while those in the 75th percentile reach up to $4,176. Homeowners in the 90th percentile may see bills as high as $6,225. Comparatively, the highest and lowest median tax bills in Sweet Grass County both stand at $1,987, indicating a relatively uniform tax rate across the region. These property taxes significantly impact homeowners, influencing their overall cost of living and potentially affecting property values and market dynamics.
Average Melville Tax Bill
$1,987
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 Melville, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59055 | $681 | $1,040 | $1,987 | $4,176 | $6,225 |
Source: Ownwell