Property Valuation
Montana property taxes are calculated by multiplying the taxable (assessed) value by:
AThe state income tax rate
BThe local mill levy✓ Correct
CThe capitalization rate
DThe federal tax rate
Explanation
Montana property taxes are calculated by multiplying the taxable value by the mill levy set by local taxing jurisdictions (counties, cities, school districts). One mill equals $1 per $1,000 of taxable value.
Related Montana Property Valuation Questions
- The sales comparison approach to value is MOST appropriate for appraising:
- In Montana, 'plottage value' (assemblage premium) refers to:
- The 'principle of conformity' in Montana real estate appraisal suggests that property values are maximized when:
- External obsolescence differs from functional obsolescence because external obsolescence is caused by:
- In Montana, a comparative market analysis (CMA) performed by a real estate agent is NOT the same as:
- Plottage value is created when:
- The principle of anticipation holds that value is based on:
- In Montana, an 'as-is' appraisal for a property requiring significant repairs values the property:
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