Yellowstone County property taxes are among the highest in Montana. In 2017, the average effective tax rate was 2.38%, meaning that the average homeowner paid $2,380 in property taxes. For many homeowners, property taxes can be a significant financial burden. If you’re struggling to pay your property taxes, there are options available to you. This blog post will explore some of those options, as well as provide tips on how to appeal your assessment if you believe it to be too high.
The Process of Paying Property Taxes
When it comes time to pay your property taxes, there are a few things you need to know. The first is that you have the option to pay them in one lump sum or in installments. If you choose to pay in installments, you will need to make sure that your first payment is received by the county treasurer no later than March 1st and that all subsequent payments are made by October 15th.
You also have the option to escrow your property taxes with your mortgage company. This means that they will hold onto the money and pay the taxes for you when they come due. This can be a good option if you are worried about forgetting to make a payment or if you would simply prefer not to have to worry about it yourself.
Once you have decided how you will be paying your property taxes, you need to find out how much they are. You can do this by contacting your local county assessor’s office or by looking up your property tax bill online. If you have any questions about how your property tax bill is calculated, the assessor’s office should be able to help you out.
Once you know how much you owe, it’s time to actually pay the taxes. If you are paying in person, you will need to bring a check or cashier’s check made out to your county treasurer. If you are paying by mail, you can simply send a personal check, money order, or cashier
Exemptions and Deductions
There are a number of exemptions and deductions available to homeowners in Yellowstone County. These include the Homestead Exemption, the Senior Citizen’s Property Tax Relief Program, the Disabled Veterans’ Property Tax Exemption, and the Agricultural Landowner’s Property Tax Credit.
The Homestead Exemption provides a reduction in property taxes for qualifying homeowners. To be eligible, homeowners must have owned and occupied their home as their primary residence on January 1st of the tax year. The exemption amount is $1,000 for homes with a market value of up to $100,000, and $2,000 for homes with a market value of over $100,000.
The Senior Citizen’s Property Tax Relief Program provides a reduction in property taxes for qualifying senior citizens. To be eligible, seniors must be at least 65 years of age and have an annual household income of less than $24,000. The maximum exemption amount is $1,200.
The Disabled Veterans’ Property Tax Exemption provides a reduction in property taxes for disabled veterans who are 100% disabled due to service-related injuries. The maximum exemption amount is $3,000.
The Agricultural Landowner’s Property Tax Credit provides a credit against property taxes for agricultural landowners who have at least 10 acres of farmland devoted to agricultural production. The credit is equal to 25% of the property tax liability on the farmland.
How Property Taxes Are Used
Property taxes in Yellowstone County are used to fund a variety of local government services. The largest portion of property tax revenue goes to the county general fund, which is used to pay for things like public safety, roads and bridges, and social services. A smaller portion of property tax revenue is also set aside for specific purposes like funding schools and libraries.
In addition to paying for government services, property taxes also help support vital infrastructure in Yellowstone County. Property taxes are used to fund the maintenance and repair of roads, bridges, and other public facilities. They also help pay for the construction of new buildings and other projects.
Yellowstone County has one of the highest property tax rates in Montana. The average homeowner in Yellowstone County pays $2,500 in property taxes each year. This amount can vary depending on the value of your home and where it is located within the county.
Why Property Taxes Increase
There are many reasons why property taxes might increase in a given year. The most common reason is that the overall value of properties in the county has gone up. When this happens, the tax assessor will reassess all properties in the county and adjust the tax rates accordingly. This usually results in a modest increase in property taxes for most homeowners.
Another common reason for property tax increases is when the county implements a new or higher fee for certain services. For example, if the county decides to start charging for trash pickup, this will likely result in a small increase in property taxes. Similarly, if the county decides to raise fees for things like building permits or library fines, this will also lead to a small increase in property taxes.
Finally, it’s also worth noting that some counties have what’s known as a “tax cap.” This means that there’s a limit on how much property taxes can go up in any given year, regardless of the underlying value of properties or any new fees that are implemented. So, even if your home goes up in value or new fees are put into place, your property taxes might not increase by more than a certain amount each year.
Effects of Not Paying Property Taxes
If you don’t pay your property taxes, the county can place a tax lien on your home. This means that the county has a legal claim to your home and can foreclose on it if you don’t pay the taxes you owe. The county can also sell your home at a tax auction. If you’re facing foreclosure or tax auction, you should contact a qualified attorney who can help you navigate the process and protect your rights.
How much are property taxes in Yellowstone County?
According to the Yellowstone County Treasurer’s Office, the average residential property tax bill in Yellowstone County is $1,933 per year. However, this amount can vary greatly depending on the value of your home and other factors. For more information on how your property taxes are calculated, you can contact the Yellowstone County Treasurer’s Office at (406) 256-2800.
Who pays property taxes in Yellowstone County?
Property taxes in Yellowstone County are paid by the property owner. The tax is assessed by the county and collected by the county treasurer.
How are property taxes used in Yellowstone County?
In Yellowstone County, property taxes are used to fund a variety of public services. The largest share of property tax revenue goes to funding schools, followed by county government operations, public safety, and human services.
A small portion of property tax revenue is also used to fund state government operations and programs. In addition, a small amount of property tax revenue is used to fund special districts such as fire districts and library districts.
What is the tax rate for different types of property in Yellowstone County?
The tax rate for different types of property in Yellowstone County varies depending on the type of property and its location within the county. The rates are as follows:
- Residential property located outside of city limits is taxed at 1.5% of its assessed value.
- Commercial property located outside of city limits is taxed at 2.5% of its assessed value.
- Industrial property located outside of city limits is taxed at 3.0% of its assessed value.
- Agricultural property located outside of city limits is taxed at 1.0% of its assessed value.
How to appeal your property tax assessment in Yellowstone County
If you are a property owner in Yellowstone County and you believe that your property tax assessment is too high, you can file an appeal with the County Board of Equalization (CBOE).
To file an appeal, you must first obtain a Property Tax Appeal Form from the CBOE office or online. Once you have completed the form, you must submit it to the CBOE office along with any supporting documentation no later than June 30th.
The CBOE will then review your appeal and determine whether or not to lower your assessment. If they decide not to lower your assessment, you can then file an appeal with the Montana Board of Equalization.
Yellowstone County property taxes are some of the highest in Montana. However, there are a few ways to lower your tax bill. First, you can appeal your assessment if you think it’s too high. Second, you can take advantage of any exemptions or credits that you may be eligible for. And finally, you can try to negotiate a payment plan with the county if you’re having trouble paying your taxes in full. If you’re struggling to pay your property taxes, don’t hesitate to reach out for help.