Lincoln, Montana Property Taxes
The median property tax rate in Lincoln, MT is 0.65%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lincoln at $346,300, the typical annual property tax bill amounts to $2,576, which is below the national median of $2,690. Property taxes in Lincoln are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lincoln's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lincoln or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincoln, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Montana
Property taxes in Lincoln, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 0.65%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln's effective property tax rate to other counties in Montana and the national median. For comparison, the 59639 zip code has both the highest and the lowest median property tax rate of 0.65%. Understanding how these cities compare with Lincoln provides valuable insights into the varying tax landscape across Powell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln Tax Rate
0.65%
Average Powell County Tax Rate
0.75%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59639 | 0.63% | 0.64% | 0.65% | 0.67% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Montana
In Lincoln, 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 Powell County 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 Lincoln, 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. By understanding the distinction between 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 Lincoln helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Lincoln's median home price is $346,300, with the 25th percentile tax bill at $1,732 and the 75th percentile tax bill at $3,637. Interestingly, the zip code 59639 has both the highest and lowest median tax bill at $2,576.
Average Lincoln Assessed Value
$346,300
Average Powell County Assessed Value
$190,600
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincoln, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59639 | $199,271 | $234,781 | $346,300 | $533,044 | $579,200 |
Source: Ownwell
Property Tax Bills Across Lincoln, Montana
In Lincoln, Powell County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the home's market value. Homeowners in Lincoln can expect a median home price of $346,300, which serves as a basis for calculating their tax obligations. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the tax bills in Lincoln can range significantly, from the 25th percentile at $1,732 to the 75th percentile at $3,637, and even up to the 90th percentile at $3,816. This variation highlights the impact of different property characteristics and assessment practices. Compared to the national median property tax rate of 0.99%, Lincoln's tax rates can result in varying financial burdens for homeowners. Understanding these factors can help homeowners better anticipate their annual tax liabilities and plan accordingly.
Average Lincoln Tax Bill
$2,576
Average Powell County Tax Bill
$1,529
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59639 | $1,359 | $1,732 | $2,576 | $3,637 | $3,816 |
Source: Ownwell