Glasgow, Montana Property Taxes
The median property tax rate in Glasgow, MT is 1.45%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Glasgow at $155,350, the typical annual property tax bill reaches $2,127, which is below the national median of $2,690. Property taxes in Glasgow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glasgow'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 Glasgow 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
Glasgow, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,253
$2,090
Ownwell’s Glasgow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glasgow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glasgow 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 Glasgow, Montana
Property taxes in Glasgow, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glasgow is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Glasgow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glasgow 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 Glasgow's effective property tax rate to other areas in Montana and the national median. For comparison, the 59230 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these areas compare with Glasgow provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glasgow Tax Rate
1.45%
Average Valley County Tax Rate
1.31%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glasgow, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59230 | 0.80% | 0.93% | 1.45% | 1.60% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Glasgow, Montana
In Glasgow, 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 Valley 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 Glasgow, 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. For example, the median home price in Glasgow is $155,350, with tax bills ranging from $1,292 at the 25th percentile to $3,451 at the 90th percentile. 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 Glasgow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glasgow Assessed Value
$155,350
Average Valley County Assessed Value
$101,800
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glasgow, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59230 | $38,739 | $90,016 | $155,350 | $217,086 | $287,451 |
Source: Ownwell
Property Tax Bills Across Glasgow, Montana
In Glasgow, Valley County, MT, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value of the home, which is determined by the local assessor's office. Factors such as property size, location, and improvements can influence this assessed value. For instance, the median home price in Glasgow is $155,350. Comparing with the national median property tax rate of 0.99%, homeowners in Glasgow face a range of tax bills. For example, the 25th percentile tax bill is $1,292, while the 75th percentile tax bill is $2,750. Some homeowners may even see tax bills as high as $3,451, placing them in the 90th percentile. The highest median tax bill recorded in the area is $2,127. These tax obligations can significantly impact a homeowner's annual budget, making it crucial for residents to understand how their property taxes are calculated and what factors contribute to their overall tax liability.
Average Glasgow Tax Bill
$2,127
Average Valley County Tax Bill
$1,277
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Glasgow, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59230 | $610 | $1,292 | $2,127 | $2,750 | $3,451 |
Source: Ownwell