Example of Toole County Property Tax Calculation
Toole County calculates property taxes by multiplying the assessed value of a property by the county's millage rate. For example, if a property in Toole County has an assessed value of $100,000 and the millage rate is 100, the property owner would owe $10,000 in property taxes. The millage rate is determined by the county's budget and is typically expressed in mills, which represents one-tenth of one percent (0.001). So, a millage rate of 100 means the property owner owes $100 for every $1,000 of assessed value. It is important to note that property tax rates can vary based on the location and type of property.
If you want appeal your property tax assessment - contact your local tax assessor.
Toole County Property Tax Rates
Toole County Property Tax Rates
|Tax||Rate per $100 of Assessed Value|
The property tax rates for Toole County are listed in the above table. The general tax rate is $2.298 per $100 of assessed value, the school tax rate is $4.082 per $100 of assessed value, and the road tax rate is $0.900 per $100 of assessed value. The total tax rate for Toole County is $7.280 per $100 of assessed value.
Who sets property tax rates in Toole County ?
Toole County property tax rates are set by the Toole County Commission. This governing body meets annually to review the county's budget and set the property tax rate accordingly. The tax rate is typically set in late summer or early fall, prior to the beginning of the new fiscal year. The exact date for the meeting is usually announced through local media outlets and the Toole County website. The property tax rate is calculated based on the assessed value of the property and is used to fund various county services, such as schools, emergency services, and road maintenance.
Homestead exemptions in Toole County ?
Toole County in Montana offers several Homestead exemptions and deductions to homeowners. The following table outlines the different categories and their corresponding details:
|General Exemption||All homeowners||$1,500||Applies to the assessed value of property|
|Elderly Homeowner Exemption||Homeowners aged 62 or older||Up to $15,000||May only be applied to the primary residence|
|Disabled Veteran Exemption||Veterans with a service-connected disability||Up to $3,000||May only be applied to the primary residence or vehicle|
|Surviving Spouse of a Service Member Exemption||Surviving spouse of a service member who died on active duty||Up to $150,000||May only be applied to the primary residence|
It is important to note that these exemptions and deductions may change over time, and homeowners should check with their local government to ensure they are eligible and receive the appropriate benefits.
When is Toole County Property Tax due ?
Toole County Property Tax is typically due on November 30th of each year. There are several payment methods available for residents to use when paying their property tax, including:
- Online: Residents can pay their property tax online by visiting the Toole County Treasurer's website and following the instructions provided.
- Mail: Residents can also pay their property tax by mailing a check or money order to the Toole County Treasurer's Office. The mailing address is provided on the property tax statement.
- In-person: Residents can pay their property tax in person at the Toole County Treasurer's Office. The office is located at 226 1st St S, Shelby, MT 59474.
It is important to note that if property taxes are not paid by the due date, penalties and interest may be added to the amount owed. Therefore, it is recommended that residents make sure to pay their property tax on time using one of the methods described above.
If you have more questions - contact your local tax collector.
How is Toole County Property Tax penalty calculated ?
Toole County Property Tax Penalty Calculation
Toole County, located in Montana, applies a penalty to property taxes that are not paid by the due date. The penalty is calculated based on a percentage of the unpaid taxes and accrues on a monthly basis until the payment is made.
The penalty rate applied by Toole County is 2% per month, which is equivalent to 24% per year. This means that if a property owner fails to pay their property taxes on time, they will be charged an additional 2% of the unpaid amount every month until the taxes are paid in full.
For example, let's say a property owner in Toole County has an outstanding tax bill of $1,000, due on July 1st. If they fail to pay the full amount by the due date, they will be charged an additional 2% penalty, or $20, on August 1st. If the taxes are still unpaid on September 1st, another 2% penalty, or $20, will be added to the bill. This process will continue every month until the taxes are paid in full.
To avoid incurring penalty fees, property owners in Toole County should make sure to pay their property taxes on or before the due date. If they are unable to pay the full amount, they may be able to arrange a payment plan with the county treasurer's office.
|Penalty Rate||2% per month, equivalent to 24% per year|
|Example Tax Bill||$1,000|
|Due Date||July 1st|
|Penalty for August 1st||$20|
|Penalty for September 1st||$20|
|Penalty Calculation||$1,000 x 2% = $20 monthly penalty|
We recommend contacting the Toole County Tax Office or a local tax professional for the most up-to-date and accurate information.