Conrad, Montana Property Taxes
The median property tax rate in Conrad, MT is 0.57%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Conrad, the typical annual property tax bill reaches $1,276, well below the national median of $2,690. Property taxes in Conrad are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Conrad'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 Conrad or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Conrad, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,128
Ownwell’s Conrad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conrad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conrad 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 Conrad, Montana
Property taxes in Conrad, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Conrad is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Conrad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conrad 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 Conrad's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59425 has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Conrad provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Conrad Tax Rate
0.57%
Average Teton County Tax Rate
0.93%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conrad, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59425 | 0.57% | 0.57% | 0.57% | 0.59% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Conrad, Montana
In Conrad, Montana, understanding the difference between "market value" and "assessed value" is essential 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 Teton 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 Conrad, 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 Conrad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Conrad is $197,860, with the highest and lowest median tax bills both being $1,276 in zip code 59425.
Average Conrad Assessed Value
$197,860
Average Teton County Assessed Value
$215,184
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Conrad, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59425 | $64,172 | $144,140 | $197,860 | $359,192 | $375,258 |
Source: Ownwell
Property Tax Bills Across Conrad, Montana
In Conrad, located in Teton 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 and reflects a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the property's size, location, and any improvements made. For instance, homeowners in Conrad might see tax bills ranging from the 25th percentile at $819 to the 75th percentile at $2,128, with the 90th percentile reaching up to $2,168. These figures highlight the variability in tax bills due to differences in property values and local assessments. Compared to the national median property tax rate of 0.99%, Conrad's tax bills can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Conrad Tax Bill
$1,276
Average Teton County Tax Bill
$2,060
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Conrad, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59425 | $365 | $819 | $1,276 | $2,128 | $2,168 |
Source: Ownwell