Reed Point, Montana Property Taxes
The median property tax rate in Reed Point, 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 Reed Point at $352,300, the typical annual property tax bill amounts to $1,885, significantly below the national median of $2,690. Property taxes in Reed Point are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Reed Point'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 Reed Point or another part of Sweet Grass County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reed Point, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,255
Ownwell’s Reed Point Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Reed Point with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Reed Point to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Reed Point, Montana
Property taxes in Reed Point, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reed Point is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Reed Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reed Point 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 Reed Point's effective property tax rate to other counties in Montana and the national median. For comparison, the 59069 zip code has the highest median property tax rate of 0.64%, while the 59069 zip code has the lowest median tax rate of 0.64%. Understanding how these cities compare with Reed Point 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 Reed Point 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 Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | 0.49% | 0.54% | 0.64% | 0.68% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Reed Point, Montana
In Reed Point, 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 Reed Point, 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 Reed Point is $352,300, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $838, while the 75th percentile tax bill is $2,925. 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 Reed Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Reed Point Assessed Value
$352,300
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 Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | $52,014 | $144,230 | $352,300 | $480,422 | $670,580 |
Source: Ownwell
Property Tax Bills Across Reed Point, Montana
In Reed Point, located in Sweet Grass County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Reed Point, the median home price is $352,300. Property tax bills can vary significantly, with the 25th percentile at $838 and the 75th percentile reaching $2,925. At the 90th percentile, homeowners might see tax bills as high as $3,796. These figures illustrate how property taxes can impact household budgets, with higher-valued homes typically incurring higher taxes. Comparatively, the national median property tax rate is 0.99%, making Reed Point's tax bills relatively moderate. Homeowners should be aware of these factors when budgeting for property expenses, as taxes are a significant component of homeownership costs.
Average Reed Point Tax Bill
$1,885
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 Reed Point, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59069 | $301 | $838 | $1,885 | $2,925 | $3,796 |
Source: Ownwell