Example of Fallon County Property Tax Calculation
Fallon County property tax is calculated based on the assessed value of the property. The assessed value is determined by the County Assessor's Office, which reviews the property and assigns a value to it based on its size, location, and other factors. Once the assessed value is determined, the County applies a tax rate to it to calculate the property tax amount.
For example, if a property in Fallon County has an assessed value of $100,000 and the tax rate is set at 1%, then the property tax amount would be $1,000 ($100,000 x 1% = $1,000).
It's important to note that property taxes in Fallon County are used to fund important services like schools, public safety, and infrastructure. Property owners are typically required to pay their property taxes annually, and failure to do so can result in penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Fallon County Property Tax Rates
The following table displays the current property tax rates in Fallon County:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $11.04 |
| Commercial | $14.86 |
| Agricultural | $6.64 |
| Industrial | $18.05 |
It is important to note that these rates may be subject to change and residents should refer to the official Fallon County website for the most up-to-date information.
Who sets property tax rates in Fallon County ?
Who sets property tax rates in Fallon County?
The Fallon County Commission is responsible for setting property tax rates in Fallon County. They do so annually during their budgeting process, which typically takes place in the fall.
When are property tax rates set in Fallon County?
Property tax rates in Fallon County are set on an annual basis during the county's budgeting process. This typically takes place in the fall, with the new rates going into effect on January 1st of the following year.
Homestead exemptions in Fallon County ?
To help the residents of Fallon County in Montana understand their eligibility for Homestead exemptions and deductions, the following table outlines all the county-specific exemptions, eligibility criteria, maximum amount, and important notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Permanent Montana residents who have owned and occupied their primary residence for at least 7 months of the prior year | Up to $100,000 of the assessed value | The exemption cannot exceed the assessed value of the property. |
| Senior Citizen Homestead Exemption | Montana residents who are 62 years or older and have owned and occupied their primary residence for at least 7 months of the prior year | Up to $250,000 of the assessed value | The exemption cannot exceed the assessed value of the property. |
| Permanently Disabled Homestead Exemption | Montana residents who are totally disabled and have owned and occupied their primary residence for at least 7 months of the prior year | Up to $250,000 of the assessed value | The exemption cannot exceed the assessed value of the property. |
| Agricultural Exemption | Montana residents who own land that is being used for agriculture or grazing purposes | Exemption on the first $100,000 of the assessed value of the land | The land must have been used for agricultural purposes for at least 5 years. |
| Natural Resource Exemption | Montana residents who own land that is being used for the extraction of natural resources | Exemption on the first $100,000 of the assessed value of the land | The land must be actively producing natural resources. |
It's important to note that while these exemptions can save residents money on their property taxes, they each have specific eligibility requirements and maximum amounts. Residents should review the requirements carefully to determine which exemption they may be eligible for and how much they may save. Additionally, some exemptions may require an application to be filed with the county assessor's office.
When is Fallon County Property Tax due ?
Fallon County Property Tax Due Date and Payment Methods
Property taxes are a crucial source of revenue for Fallon County, and they play a crucial part in funding important public services like schools, fire departments, and law enforcement. If you're a property owner in Fallon County, it's essential to know when your property taxes are due and how to pay them.
Here's what you need to know:
Property Tax Due Date:
Property taxes in Fallon County are typically due on November 30th of each year. However, if November 30th falls on a weekend or holiday, the due date will be extended to the next business day.
Payment Methods:
There are several ways to pay your property taxes in Fallon County:
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By Mail: You can mail a check or money order to the Fallon County Treasurer's Office at P.O. Box 125, Baker, MT 59313. Make sure to include your property tax ID number on your check or money order.
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In Person: You can pay your property taxes in person at the Fallon County Treasurer's Office located at 10 West Fallon Ave., Baker, MT 59313. The office is open from 8:00 am to 5:00 pm on weekdays.
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Online: You can pay your property taxes online using a credit/debit card or e-check through the Fallon County website. Please note that there is a convenience fee for online payments.
It's essential to pay your property taxes on time to avoid penalties and interest charges. If you have any questions about your property taxes or payment methods, contact the Fallon County Treasurer's Office at 406-778-7106.
If you have more questions - contact your local tax collector.
How is Fallon County Property Tax penalty calculated ?
Fallon County property tax penalty is calculated based on the delinquent tax amount and the number of days past the payment deadline. The penalty rate is set by the state and may vary from year to year. In general, the penalty rate is between 2% and 10% of the delinquent tax amount per month.
To understand the calculation of Fallon County property tax penalty, consider the following example:
- John owns a property in Fallon County and his property tax bill is due on November 30.
- John fails to pay the full amount by the due date and pays the entire bill on January 15 of the following year.
- The delinquent tax amount is $5,000, and the penalty rate in Fallon County for January is 3%.
- The number of days past the payment deadline is 46 (from December 1 to January 15).
- The penalty amount for January is calculated as follows: $5,000 x 3% x 1 = $150.
- John's total property tax bill, including penalties, is $5,150 ($5,000 + $150).
In this example, the property tax penalty for John's late payment is 3% of the delinquent amount for one month. If John continues to delay payment, the penalty will accumulate at the same rate each month until the tax is paid in full.
To avoid property tax penalties, it is important to pay the full amount by the due date. If there is a financial hardship, contact the Fallon County Treasurer's office to discuss payment options or potential exemptions.
We recommend contacting the Fallon County Tax Office or a local tax professional for the most up-to-date and accurate information.