Montana Property Tax Calculator

Montana Property Taxes

Buying a house in Billings? Missoula? Helena? If so, it’s a good idea to get familiar with the Montana property tax system. Montana has relatively low taxes on residential real estate. The state’s effective property tax rate is 0.79% and the median property tax payment is $2,419.

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 is only a small percentage of the property’s market value. Commercial and business property also receive big exemptions.

If you are buying a house in Montana, it’s also a good idea to familiarize yourself with the details of getting mortgage in the Big Sky State. You can find this information, along with details about rates on our Montana mortgage guide.

A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

How Montana Property Taxes Are Calculated

Property taxes in Montana are based on your total tax rate and the taxable value of your home. Taxable value is based on your home’s market value, but the state of Montana calculates it using a somewhat complicated formula.

First, residential property is reappraised by state assessors once every two years. (Reappraisal occurred every six years prior to 2015). The goal of the reappraisal is to match the current market value for each property. If the reappraised value is greater than the previous value, the difference is phased in over the course of the two-year reappraisal cycle. That means there is a slight lag between your current market value and the value on which your taxes are based.

Montana Property Tax Rates

Cities, counties and school districts largely determine tax rates in Montana. The state also collects statewide taxes to support education. Tax rates are expressed in mills or millage rates. A mill equals $1 for every $1,000 of taxable value, while a millage rate is a mill expressed as a decimal. For example, 1 mill is equivalent to a millage rate of 0.001.

While your tax bill will reflect a millage rate, a good way of comparing tax rates from one area to the next is through effective tax rates. This is equal to annual property taxes paid as a percentage of home value. The table below shows average effective property tax rates for every county in Montana, along with their median home values and median annual property tax payments.

You can also learn more about your mortgage payments with our mortgage loan calculator.

Yellowstone County

Yellowstone County is located in central Montana and home to the city of Billings. Tax rates in Yellowstone County are higher than the state average, as its effective tax rate is 0.88%. Despite the county's median home value of $289,300 being below the statewide median, the typical homeowner in this part of the state has the fifth-highest annual property tax bill ($2,556).

Missoula County

Missoula County's effective tax rate is 0.94% and the median home value is $382,400. As a result, Missoula County has the highest the median annual property tax payment in the state ($3,576).

Flathead County

Located in northwest Montana along the western boundary of Glacier National Park, Flathead County has some truly beautiful areas. It also has relatively modest property taxes. The effective property tax rate in the county is 0.66%, below the statewide average of 0.79%. But the median home value ($414,200) results in the county having the fourth-highest median property tax bill ($2,727).

Gallatin County

Gallatin County stretches from the tristate border with Idaho and Wyoming up to the city of Bozeman. It contains parts of the Gallatin National Forest and Yellowstone National Park.

The median home value in Gallatin County is $526,700. That makes homes here the most valuable of Montana's 56 total counties.

So while Gallatin County’s property tax rates are slightly lower than the state average, homeowners in the county still pay among the highest property taxes in Montana in dollar terms. The typical Gallatin County resident has a property tax bill of $3,423, placing the county as the second-most expensive behind only Missoula County.

Cascade County

The effective property tax rate in Cascade County is 0.95%, 13th-highest in the state. At that rate, the annual property taxes on a home of median value ($227,600) would be $2,154.

Lewis and Clark County

The sixth-most populous county in Montana, Lewis and Clark County has property tax rates higher than the state average. The county’s average effective property tax rate is 0.95%, compared to the 0.79% state average.

Ravalli County

If you’re buying a home in Montana, but want relatively low property taxes, Ravalli County may be the place for you. The county’s 0.56% effective property tax rate ranks as the fourth-lowest in the state.

Silver Bow County

The effective property tax rate in Silver Bow County is 1.10%, seventh-highest in Montana. The typical homeowner with a median valued home worth $195,800 would pay $2,153 annually at that rate.

Lake County

Situated at the southern end of Flathead Lake in northwest Montana, Lake County is the ninth-most populous county in Montana. The county’s average effective property tax rate of 0.71% is slightly lower than the  0.79% statewide average.

Lincoln County

The typical homeowner in Lincoln County pays $1,396 annually in property taxes. That's more than $1,000 less than the statewide median of $2,419. The effective property tax rate here is 0.60%.