Shawmut, Montana Property Taxes
The median property tax rate in Shawmut, MT is 0.62%, 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 $270,171 in Shawmut, the typical annual property tax bill amounts to $1,684, well below the national median of $2,690. Property taxes in Shawmut are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. By understanding Shawmut's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in Shawmut or another part of Sweet Grass County, a thorough grasp of the local property tax system is beneficial for all property owners.
Last Updated June 14, 2024
Shawmut, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,675
$1,554
Ownwell’s Shawmut Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shawmut with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shawmut 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 Shawmut, Montana
Property taxes in Shawmut, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shawmut is 0.62%, lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Shawmut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shawmut 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 Shawmut's effective property tax rate to other counties in Montana and the national median. For comparison, the 59078 zip code has the highest median property tax rate of 0.62%, while the 59078 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Shawmut 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 Shawmut Tax Rate
0.62%
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 Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Shawmut, Montana
In Shawmut, 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 Shawmut, 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 Shawmut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shawmut are both $1,684, found in the 59078 zip code.
Average Shawmut Assessed Value
$270,171
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 Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | $270,171 | $270,171 | $270,171 | $270,171 | $270,171 |
Source: Ownwell
Property Tax Bills Across Shawmut, Montana
In Shawmut, located in Sweet Grass County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor, who evaluates the property's market value and then applies an assessment ratio to arrive at the taxable value. This taxable value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition, as well as recent sales of similar properties in the area. Homeowners in Shawmut can expect their property tax bills to be relatively consistent, with the median tax bill being $1,684. This figure is significantly higher than the national median property tax rate of 0.99%, indicating a higher tax burden for Shawmut residents. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Homeowners must budget for these taxes to avoid surprises and ensure they can meet their annual obligations.
Average Shawmut Tax Bill
$1,684
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 Shawmut, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59078 | $1,684 | $1,684 | $1,684 | $1,684 | $1,684 |
Source: Ownwell