Homestead, Sheridan County, Montana Property Taxes
Median Homestead, MT effective property tax rate: 1.10%, significantly higher than the national median of 1.02%, but lower than the Montana state median of 0.83%.
Median Homestead, MT home value: $103,011
Median annual Homestead, MT tax bill: $1,149, $1,251 lower than the national median property tax bill of $2,400.
How are property taxes in Sheridan calculated?
Property taxes in Homestead, MT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Homestead’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Homestead, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Homestead, Sheridan County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.1%
Estimate Property Tax Bill
$1,133
$1,052
Property Tax Rates Across Homestead, Sheridan County, Montana
Local government entities in Montana set property tax rates, leading to significant variations across the state. Each year, counties like Sheridan estimate their required budget to maintain services and divide it by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the basic annual process.
In Homestead, located in Sheridan County, the effective property tax rate is 1.10%. This rate is consistent with the highest and lowest rates found in the state, reflecting a uniform approach within the county. When compared to the national median property tax rate of 1.02%, Homestead’s rate is slightly higher, indicating a greater tax burden on property owners in this region. However, the median property tax bill in Montana remains competitive with the national median bill of $2400, suggesting that while rates may be higher, the overall tax bills are still within a reasonable range for property owners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Homestead Tax Rate
1.10%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sheridan County Tax Rate
1.29%
Median Effective Montana Tax Rate
0.83%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Homestead, Sheridan County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59242 | 1.00% | 1.08% | 1.10% | 1.23% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Homestead, Sheridan County, Montana
When examining property taxes in Homestead, MT, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Sheridan County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Sheridan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Homestead.
For example, the median home price in Homestead is $103,011, with tax bills ranging significantly across the county. Zip code 59242 has the highest median home price at $103,011.
Property Tax Assessment Values Across Homestead, Sheridan County, Montana
Source: Ownwell
$33,196
$78,235
$123,274
Median Homestead Market Value
$103,011
Median Sheridan County Market Value
$91,094
Median Montana Market Value
$317,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Homestead, Sheridan County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59242 | $9,709 | $30,812 | $103,011 | $144,924 | $262,816 |
Source: Ownwell
Property Tax Bills Across Homestead, Sheridan County, Montana
Median Homestead Tax Bill
$1,149
Median Sheridan County Tax Bill
$1,221
Median Montana Tax Bill
$2,646
Median United States Tax Bill
$2,400
Property Tax Bills Across Homestead, Sheridan County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59242 | $114 | $395 | $1,149 | $1,679 | $3,075 |
Source: Ownwell
