Lakeside, Montana Property Taxes
The median property tax rate in Lakeside, MT is 0.50%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lakeside at $1,052,900, the typical annual property tax bill reaches $5,040, exceeding the national median of $2,690. Property taxes in Lakeside are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lakeside's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lakeside or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeside, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$5,265
Ownwell’s Lakeside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeside to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lakeside, Montana
Property taxes in Lakeside, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeside is 0.50%, significantly lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Lakeside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeside estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lakeside's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59922 has both the highest and lowest median property tax rate in the area, standing at 0.50%. Understanding how these cities compare with Lakeside provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeside Tax Rate
0.50%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeside, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59922 | 0.49% | 0.49% | 0.50% | 0.52% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Lakeside, Montana
In Lakeside, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lakeside, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Lakeside is $1,052,900, with tax bills ranging from $2,931 at the 25th percentile to $8,449 at the 90th percentile. The zip code 59922 has both the highest and lowest median tax bill at $5,040. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lakeside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeside Assessed Value
$1,052,900
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeside, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59922 | $344,118 | $676,409 | $1,052,900 | $1,326,145 | $1,730,300 |
Source: Ownwell
Property Tax Bills Across Lakeside, Montana
In Lakeside, MT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Home improvements or renovations can also impact the assessed value, potentially increasing the tax bill. For homeowners in Lakeside, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $2,931, while at the 75th percentile, it is $6,522. At the 90th percentile, homeowners might see a tax bill of $8,449. Comparatively, the national median property tax rate is 0.99%, which highlights the variability in property tax rates and their impact on homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Lakeside Tax Bill
$5,040
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeside, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59922 | $1,943 | $2,931 | $5,040 | $6,522 | $8,449 |
Source: Ownwell