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The median property tax in Montana is $1,465.00 per year for a home worth the median value of $176,300.00. Counties in Montana collect an average of 0.83% of a property's assesed fair market value as property tax per year. Montana is ranked number twenty nine out of the fifty states, in order of the average amount of property taxes collected.
Dec 12, 2023 · Montana homeowners see higher property taxes as some big businesses pay less. The median residential properties in Montana saw a 21% higher tax bill following this year’s reappraisal cycle, according to a Montana Free Press analysis, with many homeowners paying hundreds of dollars a year more. Austin Amestoy: So we have the numbers at this ...
Montana has relatively low taxes on residential real estate. The state’s average effective property tax rate is 0.74%, well below the U.S. average, which currently stands at 0.99%. In part, rates in Montana are low because the system is structured to reduce the burden on homeowners. The taxable value for an owner-occupied residential property ...
Jul 28, 2023 · Property taxes are calculated locally by applying mills to a property’s taxable value. A “mill” is simply a unit of measurement and one mill will generate $1 dollar of property tax revenue for every $1,000 of a property’s taxable value.
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Jun 22, 2023 · 3) Tax bills are allocated proportionally to each property’s share of the tax base. This is typically done by calculating millage rates (more on those in a bit), but the important thing to understand is that your taxes are proportional to your taxable value. So, for example, a home that represents 8% of the tax base is responsible for 8% of ...
- edietrich@montanafreepress.org
- Deputy Editor
Dec 7, 2023 · The median Montana residential property owner will pay about 21% more on their taxes this year than they did last year, with typical increases ranging between 11% and 35%, according to a Montana Free Press analysis of revenue department data for the 956,000 properties on the state’s property tax rolls in both 2022 and 2023.
Jun 27, 2023 · A couple of things to note here: This math means that residential properties worth the same amount pay the same amount — as is the case with the two $300,000 homes in our simple example.
