Example of Fergus County Property Tax Calculation
Fergus County calculates property tax based on the assessed value of the property. The county assesses properties at a rate of 35% of their actual value. For example, if a property is worth $100,000, its assessed value would be $35,000.
Once the assessed value is determined, the county applies the current mill levy rate to calculate the property tax due. A mill is equal to one-tenth of a percent, or 0.001. For instance, if the mill levy rate is 100, that means the property owner must pay $100 in taxes per $1,000 of assessed property value.
To put this in perspective, let's say a property in Fergus County has an assessed value of $50,000 and the mill levy rate is 100. The property owner would owe $5,000 in property taxes that year (100 x ($50,000/1000) = $5,000).
It's important to note that mill levy rates can vary depending on the location within Fergus County and the services provided by the county. Additionally, property tax rates may be subject to change each year based on factors such as new construction, changes in property values, and changes in tax laws.
If you want appeal your property tax assessment - contact your local tax assessor.
Fergus County Property Tax Rates
The Fergus County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Fund | $2.58 |
| Statewide School | $1.50 |
| Local School | $0.00 |
| Total | $4.08 |
Please note that these rates are subject to change, and it is recommended to consult with a tax professional for the most up-to-date information.
Who sets property tax rates in Fergus County ?
Who sets property tax rates in Fergus County and when?
The Fergus County Board of Commissioners sets the property tax rates in Fergus County. They typically do this in the fall, after reviewing the county's budget for the upcoming year. The rates are then assessed and levied on January 1st of each year.
It's important to note that property tax rates can vary depending on the location and type of property in question. Factors such as school district boundaries, special assessments, and local mill levies can all influence the final tax rate.
If you have questions or concerns about property taxes in Fergus County, it's best to consult with a qualified tax professional or contact the Fergus County Treasurer's Office for more information.
Homestead exemptions in Fergus County ?
In Fergus County, Montana, homeowners may be eligible for various Homestead exemptions and deductions. Here's a breakdown of the different options available and what they entail:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners | $100,000 | Reduces property value for tax purposes |
| Senior Citizen Exemption | Homeowners aged 62 and older | $15,000 | Reduces property value for tax purposes |
| Disabled Person Exemption | Homeowners with a disability | $15,000 | Reduces property value for tax purposes |
| Military Exemption | Military service members and their families | Varies | Reduces property value for tax purposes |
| Agricultural Property Exemption | Farmers and ranchers | Varies | Reduces property value for tax purposes |
| Energy Conservation Exemption | Homeowners who install energy-efficient improvements | Varies | Reduces property value for tax purposes |
| Residential Property Tax Credit | Low-income homeowners | Varies | Provides credit to offset property taxes |
It's important to note that some of these exemptions and deductions may have additional eligibility requirements or limitations. Homeowners in Fergus County should consult with their local tax assessor's office for more information on how to apply.
When is Fergus County Property Tax due ?
Fergus County Property Tax is typically due on November 30th of each year. Property owners in Fergus County can choose from several payment methods to pay their property taxes, including:
| Payment Method | Description |
|---|---|
| Online | Property owners can pay their property taxes online using a credit card or electronic check. They will need their tax notice number and the amount due to make a payment. |
| Property owners can mail a check or money order to the Fergus County Treasurer's Office. The payment must be postmarked by November 30th to avoid penalties. | |
| In-person | Property owners can pay their property taxes in-person at the Fergus County Treasurer's Office. The office is located at 712 West Main Street, Suite 204 in Lewistown, Montana. |
It is important to note that if property owners do not pay their property taxes by the due date, they may be subject to penalties and interest fees. Therefore, it is important to make sure to pay property taxes on time to avoid any unnecessary charges.
If you have more questions - contact your local tax collector.
How is Fergus County Property Tax penalty calculated ?
Fergus County Property Tax Penalty Calculation
When a property owner in Fergus County fails to pay their property taxes on time, they will be subject to penalties and interest charges. It's important for property owners to understand how these penalties are calculated to avoid any surprises or unexpected costs.
Penalty Calculation:
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Initial Penalty: If the property taxes are not paid by the due date, a penalty of 2% will be applied to the unpaid balance.
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Additional Penalty: If the property taxes remain unpaid after 30 days from the due date, an additional penalty of 5% will be applied to the unpaid balance.
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Interest Charges: In addition to the penalties, interest charges of 1% per month will be applied to the unpaid balance until it is paid in full.
Example:
Let's say a property owner in Fergus County owes $10,000 in property taxes for the year. If they fail to pay by the due date, the initial penalty of 2% will be applied, which would be $200. If the taxes remain unpaid after 30 days, an additional penalty of 5% would be applied, which would be $500. In addition, interest charges of 1% per month would be added until the balance is paid in full.
So, if the property taxes were not paid for 6 months, the total penalty and interest charges would be:
- Initial Penalty: $200
- Additional Penalty: $500
- Interest Charges: $600 (6 months x 1% x $10,000)
Total Penalty and Interest Charges: $1,300
Therefore, the property owner would owe $11,300 in total for their property taxes after the penalty and interest charges are applied.
We recommend contacting the Fergus County Tax Office or a local tax professional for the most up-to-date and accurate information.