By: Gabriela Aidan
How to Lower Your Property Tax Bill in Yellowstone County, Montana
A property tax is a bill that is paid by the owner of a piece of property. In some cases, the owner can qualify for a homestead exemption. This is a great way to reduce the amount of money you will pay in taxes for your property.
Homestead Exemption
If you have an owner-occupied home in Yellowstone County, you may be eligible for the homestead exemption. Homestead exemptions can help reduce the value of your property and lower your property tax bill.
To claim the homestead exemption, you must apply to your county’s tax assessor. You must also provide the appraisal for the property.
The homestead exemption may be renewed annually or for as long as you own the property. In some states, a homeowner may only need to file for the exemption once.
The homestead exemption is one of the most effective ways for a homeowner to save on property taxes. However, you can still end up with a tax lien. A tax lien can be a problem for people who are delinquent in paying their taxes.
Homestead exemptions are also available for veterans, seniors, and low-income families. Some states also offer other kinds of exemptions.
You can find more information on the homestead exemption and other tax relief options by contacting the Yellowstone County Tax Assessor’s Office. They can answer your questions about the program and help you file an appeal.
Appealing a property tax assessment
If your property tax assessment in Yellowstone County has increased, you may want to consider filing an appeal. Your chances of a favorable outcome depend on your ability to present evidence and the specific rules in your county. Oftentimes, you will need to hire a third party to do the work for you. Depending on the amount of work, the cost of appealing can be relatively low or high.
To file an appeal, you need to fill out a form with the Yellowstone County Clerk and Recorder. You also need to provide supporting documentation. This can include appraisals for similar properties, expert opinions, and photos of your property.
The deadline for filing an appeal is 30 days after you receive the notice of classification and appraisal. However, if there is a backlog of appeals, your case may be delayed.
Generally, hearings are held between July and December of each year. If the county tax appeal board rules in your favor, your taxes will be reduced. If the appeal does not succeed, you can file a petition for a judicial review.
COVID-19 affects sales tax filing due dates in Yellowstone County
The COVID-19, the acronym for Coronavirus Aid, Relief and Economic Security Act of the federal government’s stimulus package, has gotten the lion’s share of attention, but it’s not the only reason to get excited about the latest in tax filing legislation. Some states have opted for a hybrid approach that will allow you to make a few more passes at the IRS.
For those who need a little more time to make their mark, the state of Montana has made the task easier for taxpayers and businesses alike. Governor Steve Bullock and the Department of Public Health and Human Services will unveil their protocols for increasing testing capacity in the state. Among the goodies is an updated list of tax guidance and an online system that will allow you to file your returns until July 15, 2020.
The new deadlines will help alleviate some of the strain on the state’s motor vehicle department. President Donald Trump delayed the real ID deadline in order to avoid crowding up state motor-vehicle offices.
Sales tax rates in Yellowstone County
Are you wondering how much sales tax rates in Yellowstone County, Montana are? There is no statewide sales tax in Yellowstone County, but the county has five separate tax jurisdictions that determine the rate. You can find out the total amount of taxes for each ZIP code by using a sales tax calculator.
Property taxes in Yellowstone County are calculated on the median value of homes in the county. The property tax rate is determined by the county’s tax assessor.
A property owner may file a protest if they believe the county has made a mistake in the way their property was assessed. The county will notify the owner of the resulting tax assessment. If the owner disagrees with the amount, the property owner can appeal the assessment to the state assessment office.
In addition to paying taxes, property owners can also file a homestead exemption to reduce the assessed value of their primary residence. This type of exemption protects homes from repossession. It also allows other benefits, such as reducing the yearly property tax.
