Oswego, Montana Property Taxes
The median property tax rate in Oswego, MT is 0.98%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Oswego, the typical annual property tax bill amounts to $306, significantly less than the national median of $2,690. Property taxes in Oswego are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oswego'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 Oswego 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
Oswego, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$246
$228
Ownwell’s Oswego Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oswego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oswego 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 Oswego, Montana
Property taxes in Oswego, Montana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Oswego is 0.98%, which is just below the U.S. national median of 0.99%. Local government entities within Oswego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oswego 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 Oswego's effective property tax rate to other areas in Valley County and the national median. For comparison, the zip code 59201 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Oswego 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 Oswego Tax Rate
0.98%
Average Valley County Tax Rate
1.31%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oswego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | 0.71% | 0.96% | 0.98% | 1.20% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Oswego, Montana
In Oswego, 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 Oswego, 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 Oswego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oswego is $25,090, with tax bills ranging from $145 at the 25th percentile to $771 at the 90th percentile. The highest and lowest median tax bills are both $306 in zip code 59201.
Average Oswego Assessed Value
$25,090
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 Oswego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $3,891 | $4,650 | $25,090 | $52,929 | $84,880 |
Source: Ownwell
Property Tax Bills Across Oswego, Montana
In Oswego, Valley County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence this, including property location, size, and any applicable exemptions. For homeowners in Oswego, understanding these calculations is crucial. The median home price stands at $25,090, with tax bills varying significantly across percentiles. For instance, the tax bill at the 25th percentile is $145, while at the 75th percentile, it rises to $503. This variability highlights the impact of property value assessments and local tax rates on individual tax bills. Compared to the national median property tax rate of 0.99%, Oswego's property taxes can be seen as relatively moderate, making it an appealing location for homeowners looking to manage their expenses effectively.
Average Oswego Tax Bill
$306
Average Valley County Tax Bill
$1,277
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Oswego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59201 | $40 | $145 | $306 | $503 | $771 |
Source: Ownwell